Correlation Analysis Between Quoine Bitcoin and TrustDEX Bitcoin

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

Quoine Bitcoin USD  vs.  TrustDEX Bitcoin USD

Quoine

Bitcoin on Quoine in USD
 7,626 
49.95  0.66%
Market Cap: 3.7 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 8,426 
150.03  1.81%
Market Cap: 123.4 B
(800.03)
10.49% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Bitcoin is expected to generate 1.49 times less return on investment than TrustDEX Bitcoin. But when comparing it to its historical volatility, Quoine Bitcoin USD is 1.63 times less risky than TrustDEX Bitcoin. It trades about 0.28 of its potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest  679,195  in TrustDEX Bitcoin USD on June 23, 2018 and sell it today you would earn a total of  163,405  from holding TrustDEX Bitcoin USD or generate 24.06% return on investment over 30 days.

Pair Corralation between Quoine Bitcoin and TrustDEX Bitcoin

0.75
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy73.33%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine Bitcoin USD  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Bitcoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

Quoine Bitcoin USD

Pair trading matchups for Quoine Bitcoin
TrustDEX Bitcoin USD  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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