Pair Correlation Between Gemini Bitcoin and Lykke Bitcoin

This module allows you to analyze existing cross correlation between Gemini Bitcoin USD and Lykke Bitcoin USD. You can compare the effects of market volatilities on Gemini Bitcoin and Lykke Bitcoin and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Gemini Bitcoin with a short position of Lykke Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Gemini Bitcoin and Lykke Bitcoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Gemini Bitcoin USD  vs   Lykke Bitcoin USD

Gemini

Bitcoin on Gemini in USD
 11,769 
437.74  3.86%
Market Cap: 970.3 B
(3,701)
31.45% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Lykke

Bitcoin on Lykke in USD
 15,470 
285.58  1.88%
Market Cap: 625.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to under-perform the Lykke Bitcoin. In addition to that, Gemini Bitcoin is 1.28 times more volatile than Lykke Bitcoin USD. It trades about -0.14 of its total potential returns per unit of risk. Lykke Bitcoin USD is currently generating about -0.11 per unit of volatility. If you would invest  1,780,000  in Lykke Bitcoin USD on December 19, 2017 and sell it today you would lose (233,000)  from holding Lykke Bitcoin USD or give up 13.09% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Gemini Bitcoin and Lykke Bitcoin
-0.19

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy56.67%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gemini Bitcoin USD and Lykke Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Lykke Bitcoin USD and Gemini Bitcoin is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Gemini Bitcoin USD are associated (or correlated) with Lykke Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lykke Bitcoin USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and Lykke Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Gemini Bitcoin USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Gemini Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Gemini Bitcoin USD

Pair trading matchups for Gemini Bitcoin

Lykke Bitcoin USD

  

Lykke Bitcoin USD

Pair trading matchups for Lykke Bitcoin