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.
| Horizon | 30 Days Login to change |
| Symbols | vs |
itBit Bitcoin USD vs. Gemini Bitcoin USD
itBitBitcoin on itBit in USD 6,470
| GeminiBitcoin on Gemini in USD 6,483
|
Pair Volatility
Assuming 30 trading days horizon, itBit Bitcoin is expected to generate 1.1 times less return on investment than Gemini Bitcoin. But when comparing it to its historical volatility, itBit Bitcoin USD is 1.21 times less risky than Gemini Bitcoin. It trades about 0.09 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 625,250 in Gemini Bitcoin USD on September 15, 2018 and sell it today you would earn a total of 23,032 from holding Gemini Bitcoin USD or generate 3.68% return on investment over 30 days.
Pair Corralation between itBit Bitcoin and Gemini Bitcoin
0.9
| Time Period | 1 Month [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Almost no diversification
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 |
5 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in itBit Bitcoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
itBit Bitcoin USD
Pair trading matchups for itBit Bitcoin
| Gemini Bitcoin USD |
5 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Gemini Bitcoin USD
Pair trading matchups for Gemini Bitcoin
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