Correlation Analysis Between Gemini Bitcoin and Quoine Bitcoin

This module allows you to analyze existing cross correlation between Gemini Bitcoin USD and Quoine Bitcoin USD. You can compare the effects of market volatilities on Gemini Bitcoin and Quoine 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 Quoine Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Gemini Bitcoin and Quoine Bitcoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Gemini Bitcoin USD  vs.  Quoine Bitcoin USD

Gemini

Bitcoin on Gemini in USD
 7,443 
19.60  0.26%
Market Cap: 115.4 B
  

Quoine

Bitcoin on Quoine in USD
 7,424 
53.76  0.73%
Market Cap: 6.5 B
 18.80 
0.25% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 1.48 times more return on investment than Quoine Bitcoin. However, Gemini Bitcoin is 1.48 times more volatile than Quoine Bitcoin USD. It trades about 0.12 of its potential returns per unit of risk. Quoine Bitcoin USD is currently generating about 0.11 per unit of risk. If you would invest  671,500  in Gemini Bitcoin USD on June 20, 2018 and sell it today you would earn a total of  72,756  from holding Gemini Bitcoin USD or generate 10.83% return on investment over 30 days.

Pair Corralation between Gemini Bitcoin and Quoine Bitcoin

0.64
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy73.33%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gemini Bitcoin USD and Quoine Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Quoine 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 Quoine Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quoine Bitcoin USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and Quoine Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Gemini Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Quoine Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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