Correlation Analysis Between Coinroom Bitcoin and Quoine Bitcoin

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

Coinroom Bitcoin USD  vs.  Quoine Bitcoin USD

Coinroom

Bitcoin on Coinroom in USD
 7,332 
155.20  2.16%
Market Cap: 12.8 B
  

Quoine

Bitcoin on Quoine in USD
 7,420 
80.00  1.07%
Market Cap: 3.7 B
(88.27)
1.20% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin USD is expected to generate 1.58 times more return on investment than Quoine Bitcoin. However, Coinroom Bitcoin is 1.58 times more volatile than Quoine Bitcoin USD. It trades about 0.25 of its potential returns per unit of risk. Quoine Bitcoin USD is currently generating about 0.24 per unit of risk. If you would invest  589,286  in Coinroom Bitcoin USD on June 22, 2018 and sell it today you would earn a total of  143,887  from holding Coinroom Bitcoin USD or generate 24.42% return on investment over 30 days.

Pair Corralation between Coinroom Bitcoin and Quoine Bitcoin

0.75
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy74.19%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinroom Bitcoin USD  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Bitcoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Coinroom Bitcoin USD

Pair trading matchups for Coinroom Bitcoin
Quoine Bitcoin USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Bitcoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Quoine Bitcoin USD

Pair trading matchups for Quoine Bitcoin

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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