Correlation Analysis Between itBit Bitcoin and Gemini Bitcoin

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

itBit Bitcoin USD  vs.  Gemini Bitcoin USD

itBit

Bitcoin on itBit in USD
 7,429 
11.08  0.15%
Market Cap: 167.4 B
  

Gemini

Bitcoin on Gemini in USD
 0.00 
0.00  0.00%
Market Cap: 115.4 B
 7,429 
100.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  671,339  in itBit Bitcoin USD on June 20, 2018 and sell it today you would earn a total of  71,530  from holding itBit Bitcoin USD or generate 10.65% return on investment over 30 days.

Pair Corralation between itBit Bitcoin and Gemini Bitcoin

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

itBit Bitcoin USD  
7 

Risk-Adjusted Performance

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

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