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
Quoine Ethereum USD vs Bitstamp Ethereum USD
Assuming 30 trading days horizon, Quoine Ethereum USD is expected to generate 0.91 times more return on investment than Bitstamp Ethereum. However, Quoine Ethereum USD is 1.09 times less risky than Bitstamp Ethereum. It trades about 0.33 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 31,425 in Quoine Ethereum USD on November 10, 2017 and sell it today you would earn a total of 14,375 from holding Quoine Ethereum USD or generate 45.74% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no 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.
Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Ethereum USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.