Correlation Analysis Between Poloniex Bitcoin and Gemini Bitcoin

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

Poloniex Bitcoin USD  vs.  Gemini Bitcoin USD

Poloniex

Bitcoin on Poloniex in USD

 6,675 
345.77  5.46%
Market Cap: 17.6 B
  

Gemini

Bitcoin on Gemini in USD

 6,392 
197.02  3.18%
Market Cap: 63.5 B
 282.98 
4.24% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin USD is expected to generate 1.17 times more return on investment than Gemini Bitcoin. However, Poloniex Bitcoin is 1.17 times more volatile than Gemini Bitcoin USD. It trades about 0.18 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.06 per unit of risk. If you would invest  623,918  in Poloniex Bitcoin USD on September 15, 2018 and sell it today you would earn a total of  65,212  from holding Poloniex Bitcoin USD or generate 10.45% return on investment over 30 days.

Pair Corralation between Poloniex Bitcoin and Gemini Bitcoin

0.94
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 Poloniex 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 Poloniex 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 Poloniex 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 Poloniex Bitcoin i.e. Poloniex Bitcoin and Gemini Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Bitcoin USD  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Gemini Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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ExchangeNASDAQ
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