Correlation Analysis Between Bitstamp Bitcoin and Quoine Bitcoin

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

Bitstamp Bitcoin USD  vs.  Quoine Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD
 7,481 
151.15  2.06%
Market Cap: 360.8 B
  

Quoine

Bitcoin on Quoine in USD
 7,425 
153.72  2.11%
Market Cap: 6.5 B
 56.77 
0.76% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to generate 1.51 times more return on investment than Quoine Bitcoin. However, Bitstamp Bitcoin is 1.51 times more volatile than Quoine Bitcoin USD. It trades about 0.1 of its potential returns per unit of risk. Quoine Bitcoin USD is currently generating about 0.09 per unit of risk. If you would invest  673,323  in Bitstamp Bitcoin USD on June 19, 2018 and sell it today you would earn a total of  59,877  from holding Bitstamp Bitcoin USD or generate 8.89% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and Quoine Bitcoin

0.46
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy73.33%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Bitcoin USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Quoine Bitcoin USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Bitcoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1195.88

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See also your portfolio center. Please also try Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.