Correlation Analysis Between Quoine Bitcoin and Gemini Bitcoin

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

Quoine Bitcoin USD  vs.  Gemini Bitcoin USD

Quoine

Bitcoin on Quoine in USD

 6,443 
45.42  0.70%
Market Cap: 3.3 B
  

Gemini

Bitcoin on Gemini in USD

 6,439 
15.78  0.25%
Market Cap: 6 B
 4.93 
0.08% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Bitcoin USD is expected to generate 1.01 times more return on investment than Gemini Bitcoin. However, Quoine Bitcoin is 1.01 times more volatile than Gemini Bitcoin USD. It trades about 0.07 of its potential returns per unit of risk. Gemini Bitcoin USD is currently generating about 0.07 per unit of risk. If you would invest  626,000  in Quoine Bitcoin USD on September 17, 2018 and sell it today you would earn a total of  19,098  from holding Quoine Bitcoin USD or generate 3.05% return on investment over 30 days.

Pair Corralation between Quoine Bitcoin and Gemini Bitcoin

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Gemini Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gemini Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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