Correlation Analysis Between Quoine Ethereum and Bitstamp Ethereum

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

Quoine Ethereum USD  vs.  Bitstamp Ethereum USD

Quoine

Ethereum on Quoine in USD

 136.00 
4.00  3.03%
Market Cap: 418.8 M
  

Bitstamp

Ethereum on Bitstamp in USD

 137.15 
35.25  20.45%
Market Cap: 958.7 M
(1.15)
0.85% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Ethereum USD is expected to generate 1.07 times more return on investment than Bitstamp Ethereum. However, Quoine Ethereum is 1.07 times more volatile than Bitstamp Ethereum USD. It trades about -0.26 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.3 per unit of risk. If you would invest  19,900  in Quoine Ethereum USD on October 21, 2018 and sell it today you would lose (6,300)  from holding Quoine Ethereum USD or give up 31.66% of portfolio value over 30 days.

Pair Corralation between Quoine Ethereum and Bitstamp Ethereum

0.87
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy95.45%
ValuesDaily Returns

Diversification

Quoine Ethereum USD diversification synergy

Very poor diversification

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

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum 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
$1022.23

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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..


 
Search macroaxis.com