Correlation Analysis Between Quoine Ethereum and Bitfinex Ethereum

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

Quoine Ethereum USD  vs.  Bitfinex Ethereum USD

Quoine

Ethereum on Quoine in USD
 507.60 
9.68  1.87%
Market Cap: 78.3 M
  

Bitfinex

Ethereum on Bitfinex in USD
 499.07 
17.39  3.37%
Market Cap: 70.3 B
 8.53 
1.68% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Ethereum USD is expected to under-perform the Bitfinex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Quoine Ethereum USD is 1.07 times less risky than Bitfinex Ethereum. The crypto trades about -0.17 of its potential returns per unit of risk. The Bitfinex Ethereum USD is currently generating about -0.16 of returns per unit of risk over similar time horizon. If you would invest  69,707  in Bitfinex Ethereum USD on May 20, 2018 and sell it today you would lose (18,061)  from holding Bitfinex Ethereum USD or give up 25.91% of portfolio value over 30 days.

Pair Corralation between Quoine Ethereum and Bitfinex Ethereum

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Quoine Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex Ethereum USD  
0 

Risk-Adjusted Performance

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

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