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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Gemini Bitcoin USD  vs.  Yobit Bitcoin USD

Gemini

Bitcoin on Gemini in USD
 7,315 
29.30  0.40%
Market Cap: 115.4 B
  

Yobit

Bitcoin on Yobit in USD
 7,412 
41.00  0.55%
Market Cap: 1.7 B
(96.76)
1.32% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gemini Bitcoin USD is expected to generate 1.5 times more return on investment than Yobit Bitcoin. However, Gemini Bitcoin is 1.5 times more volatile than Yobit Bitcoin USD. It trades about 0.1 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about 0.14 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  60,024  from holding Gemini Bitcoin USD or generate 8.94% return on investment over 30 days.

Pair Corralation between Gemini Bitcoin and Yobit Bitcoin

0.92
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 
Gemini Bitcoin USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Gemini Bitcoin USD

Pair trading matchups for Gemini Bitcoin
Yobit Bitcoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Yobit Bitcoin USD

Pair trading matchups for Yobit Bitcoin

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
vendors/bower_components/jquery.easy-pie-chart/dist/jquery.easypiechart.min.js">