Pair Correlation Between Exmo Ethereum and Quoine Ethereum

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

Exmo

Ethereum on Exmo in USD
 690.1 
(17.54)  2.48%
Market Cap: 2.6 B
(0.59)
0.085495% Risk Free Arbitrage
All Coins Ethereum Arbitrage Ethereum Correlation

Quoine

Ethereum on Quoine in USD
 690.69 
(34.31)  4.73%
Market Cap: 2.4 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Ethereum is expected to generate 1.05 times less return on investment than Quoine Ethereum. In addition to that, Exmo Ethereum is 1.06 times more volatile than Quoine Ethereum USD. It trades about 0.38 of its total potential returns per unit of risk. Quoine Ethereum USD is currently generating about 0.42 per unit of volatility. If you would invest  33,520  in Quoine Ethereum USD on November 14, 2017 and sell it today you would earn a total of  38,980  from holding Quoine Ethereum USD or generate 116.29% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Exmo Ethereum and Quoine Ethereum
0.98

Parameters

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

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Exmo Ethereum USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Ethereum USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.

Quoine Ethereum USD

  
27 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Ethereum USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.