Correlation Analysis Between Quoine Ethereum and Coinroom Ethereum

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

Quoine Ethereum USD  vs.  Coinroom Ethereum USD

Quoine

Ethereum on Quoine in USD
 708.84 
4.75  0.67%
Market Cap: 65.2 M
  

Coinroom

Ethereum on Coinroom in USD
 695.00 
3.18  0.46%
Market Cap: 201.7 M
 13.84 
1.95% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Ethereum USD is expected to generate 0.87 times more return on investment than Coinroom Ethereum. However, Quoine Ethereum USD is 1.15 times less risky than Coinroom Ethereum. It trades about 0.09 of its potential returns per unit of risk. Coinroom Ethereum USD is currently generating about 0.07 per unit of risk. If you would invest  64,737  in Quoine Ethereum USD on April 21, 2018 and sell it today you would earn a total of  6,533  from holding Quoine Ethereum USD or generate 10.09% return on investment over 30 days.

Pair Corralation between Quoine Ethereum and Coinroom Ethereum

0.91
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine Ethereum USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Ethereum USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Coinroom Ethereum USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Ethereum USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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ExchangeNASDAQ
$1073.6

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See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.