This module allows you to analyze existing cross correlation between QuadrigaCX Bitcoin USD and Exmo Bitcoin USD. You can compare the effects of market volatilities on QuadrigaCX Bitcoin and Exmo 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 QuadrigaCX Bitcoin with a short position of Exmo Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of QuadrigaCX Bitcoin
and Exmo Bitcoin
QuadrigaCX Bitcoin USD vs Exmo Bitcoin USD
Assuming 30 trading days horizon, QuadrigaCX Bitcoin is expected to generate 1.03 times less return on investment than Exmo Bitcoin. In addition to that, QuadrigaCX Bitcoin is 1.19 times more volatile than Exmo Bitcoin USD. It trades about 0.37 of its total potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.46 per unit of volatility. If you would invest 724,250 in Exmo Bitcoin USD on November 14, 2017 and sell it today you would earn a total of 932,250 from holding Exmo Bitcoin USD or generate 128.72% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding QuadrigaCX Bitcoin USD and Exmo Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo Bitcoin USD and QuadrigaCX 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 QuadrigaCX Bitcoin USD are associated (or correlated) with Exmo Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Bitcoin USD has no effect on the direction of QuadrigaCX Bitcoin i.e. QuadrigaCX Bitcoin and Exmo Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in QuadrigaCX Bitcoin USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.