Correlation Analysis Between LakeBTC Bitcoin and Quoine Bitcoin

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

LakeBTC Bitcoin USD  vs.  Quoine Bitcoin USD

LakeBTC

Bitcoin on LakeBTC in USD
 7,356 
413.60  5.96%
Market Cap: 8.3 B
  

Quoine

Bitcoin on Quoine in USD
 6,690 
20.44  0.31%
Market Cap: 6.5 B
 666.16 
9.06% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LakeBTC Bitcoin is expected to generate 1.05 times less return on investment than Quoine Bitcoin. But when comparing it to its historical volatility, LakeBTC Bitcoin USD is 1.08 times less risky than Quoine Bitcoin. It trades about 0.01 of its potential returns per unit of risk. Quoine Bitcoin USD is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  670,769  in Quoine Bitcoin USD on June 17, 2018 and sell it today you would lose (1,737)  from holding Quoine Bitcoin USD or give up 0.26% of portfolio value over 30 days.

Pair Corralation between LakeBTC Bitcoin and Quoine Bitcoin

-0.62
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy70.0%
ValuesDaily Returns

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LakeBTC Bitcoin USD  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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