This module allows you to analyze existing cross correlation between QuadrigaCX Bitcoin USD and Gatecoin Bitcoin USD. You can compare the effects of market volatilities on QuadrigaCX Bitcoin and Gatecoin 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 Gatecoin Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of QuadrigaCX Bitcoin
and Gatecoin Bitcoin
QuadrigaCX Bitcoin USD vs Gatecoin Bitcoin USD
Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to generate 1.08 times more return on investment than Gatecoin Bitcoin. However, QuadrigaCX Bitcoin is 1.08 times more volatile than Gatecoin Bitcoin USD. It trades about 0.38 of its potential returns per unit of risk. Gatecoin Bitcoin USD is currently generating about 0.41 per unit of risk. If you would invest 787,500 in QuadrigaCX Bitcoin USD on November 16, 2017 and sell it today you would earn a total of 1,000,154 from holding QuadrigaCX Bitcoin USD or generate 127.0% 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 Gatecoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gatecoin 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 Gatecoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gatecoin Bitcoin USD has no effect on the direction of QuadrigaCX Bitcoin i.e. QuadrigaCX Bitcoin and Gatecoin 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 25 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Bitcoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.