Correlation Analysis Between Bitstamp Ethereum and Quoine Ethereum

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

Bitstamp Ethereum USD  vs.  Quoine Ethereum USD

Bitstamp

Ethereum on Bitstamp in USD

 226.50 
3.47  1.56%
Market Cap: 48.5 M
  

Quoine

Ethereum on Quoine in USD

 230.03 
8.31  3.75%
Market Cap: 20.3 M
(3.53)
1.56% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to under-perform the Quoine Ethereum. In addition to that, Bitstamp Ethereum is 1.2 times more volatile than Quoine Ethereum USD. It trades about -0.09 of its total potential returns per unit of risk. Quoine Ethereum USD is currently generating about -0.1 per unit of volatility. If you would invest  27,544  in Quoine Ethereum USD on August 22, 2018 and sell it today you would lose (5,372)  from holding Quoine Ethereum USD or give up 19.5% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and Quoine Ethereum

0.66
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy76.67%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Quoine Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Quoine Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.87

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com