Pair Correlation Between QuadrigaCX Bitcoin and Gemini Bitcoin

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

QuadrigaCX Bitcoin USD  vs.  Gemini Bitcoin USD


Bitcoin on QuadrigaCX in USD
273.47  2.96%
Market Cap: 773.8 M


Bitcoin on Gemini in USD
137.77  1.50%
Market Cap: 225.4 B
1.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to generate 1.19 times more return on investment than Gemini Bitcoin. However, QuadrigaCX Bitcoin is 1.19 times more volatile than Gemini Bitcoin USD. It trades about 0.02 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.01 per unit of risk. If you would invest  1,000,839  in QuadrigaCX Bitcoin USD on March 25, 2018 and sell it today you would lose (40,841)  from holding QuadrigaCX Bitcoin USD or give up 4.08% of portfolio value over 30 days.

Pair Corralation between QuadrigaCX Bitcoin and Gemini Bitcoin

Time Period2 Months [change]
StrengthVery Strong
ValuesDaily Returns


Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding QuadrigaCX 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 QuadrigaCX 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 QuadrigaCX 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 QuadrigaCX Bitcoin i.e. QuadrigaCX Bitcoin and Gemini Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
QuadrigaCX Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in QuadrigaCX Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Gemini Bitcoin USD  

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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See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.