Correlation Analysis Between Quoine Bitcoin and Bitfinex Bitcoin

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

Quoine Bitcoin USD  vs.  Bitfinex Bitcoin USD

Quoine

Bitcoin on Quoine in USD
 6,360 
134.98  2.17%
Market Cap: 6.5 B
  

Bitfinex

Bitcoin on Bitfinex in USD
 6,379 
110.90  1.77%
Market Cap: 288.1 B
(19.30)
0.30% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Bitcoin USD is expected to under-perform the Bitfinex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Quoine Bitcoin USD is 1.17 times less risky than Bitfinex Bitcoin. The crypto trades about -0.03 of its potential returns per unit of risk. The Bitfinex Bitcoin USD is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  652,590  in Bitfinex Bitcoin USD on June 15, 2018 and sell it today you would lose (18,390)  from holding Bitfinex Bitcoin USD or give up 2.82% of portfolio value over 30 days.

Pair Corralation between Quoine Bitcoin and Bitfinex Bitcoin

-0.19
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy74.19%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Quoine Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and Quoine 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 Quoine Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of Quoine Bitcoin i.e. Quoine Bitcoin and Bitfinex Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Bitfinex Bitcoin USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1188.82

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try ETF Directory module to find actively-traded exchange traded funds (etf) from around the world.