This module allows you to analyze existing cross correlation between QuadrigaCX Bitcoin USD and Kraken Bitcoin USD. You can compare the effects of market volatilities on QuadrigaCX Bitcoin and Kraken 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 Kraken Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of QuadrigaCX Bitcoin
and Kraken Bitcoin
QuadrigaCX Bitcoin USD vs Kraken Bitcoin USD
Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to generate 1.13 times more return on investment than Kraken Bitcoin. However, QuadrigaCX Bitcoin is 1.13 times more volatile than Kraken Bitcoin USD. It trades about 0.39 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about 0.43 per unit of risk. If you would invest 790,499 in QuadrigaCX Bitcoin USD on November 15, 2017 and sell it today you would earn a total of 1,009,501 from holding QuadrigaCX Bitcoin USD or generate 127.7% 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 Kraken Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken 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 Kraken Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Bitcoin USD has no effect on the direction of QuadrigaCX Bitcoin i.e. QuadrigaCX Bitcoin and Kraken 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 Kraken Bitcoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.