Correlation Analysis Between Gemini Bitcoin and Yobit Bitcoin

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

Comparative Performance

Gemini Bitcoin USD  
00

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. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
Yobit Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

Gemini Bitcoin and Yobit Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Gemini Bitcoin USD  vs.  Yobit Bitcoin USD

Gemini

Bitcoin on Gemini in USD

 10,166 
(34.48)  0.34%
Market Cap: 55.6 B
  

Yobit

Bitcoin on Yobit in USD

 10,675 
(275.79)  2.52%
Market Cap: 3.3 B
(509.28)
5.01% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to under-perform the Yobit Bitcoin. In addition to that, Gemini Bitcoin is 1.35 times more volatile than Yobit Bitcoin USD. It trades about -0.03 of its total potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.04 per unit of volatility. If you would invest  1,188,000  in Yobit Bitcoin USD on July 22, 2019 and sell it today you would lose (128,997)  from holding Yobit Bitcoin USD or give up 10.86% of portfolio value over 30 days.

Pair Corralation between Gemini Bitcoin and Yobit Bitcoin

0.9
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Gemini Bitcoin and Yobit Bitcoin

Gemini Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gemini Bitcoin USD and Yobit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit 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 Yobit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Bitcoin USD has no effect on the direction of Gemini Bitcoin i.e. Gemini Bitcoin and Yobit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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