This module allows you to analyze existing cross correlation between Quoine Bitcoin USD and Cexio Bitcoin USD. You can compare the effects of market volatilities on Quoine Bitcoin and Cexio 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 Cexio Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Quoine Bitcoin and Cexio Bitcoin.
Assuming 30 trading days horizon, Quoine Bitcoin is expected to generate 1.35 times less return on investment than Cexio Bitcoin. But when comparing it to its historical volatility, Quoine Bitcoin USD is 1.61 times less risky than Cexio Bitcoin. It trades about 0.25 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 619,900 in Cexio Bitcoin USD on June 22, 2018 and sell it today you would earn a total of 124,020 from holding Cexio Bitcoin USD or generate 20.01% return on investment over 30 days.
Pair Corralation between Quoine Bitcoin and Cexio Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Quoine Bitcoin USD and Cexio Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio 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 Cexio Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Bitcoin USD has no effect on the direction of Quoine Bitcoin i.e. Quoine Bitcoin and Cexio Bitcoin go up and down completely randomly.
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