Pair Correlation Between Quoine Ethereum and Gatecoin Ethereum

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

Quoine

Ethereum on Quoine in USD
 530.41 
5.41  1.03%
Market Cap: 21 M
(0.09)
0.016968% Risk Free Arbitrage
All Coins Ethereum Arbitrage Ethereum Correlation

Gatecoin

Ethereum on Gatecoin in USD
 530.5 
30.52  6.1%
Market Cap: 4.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Ethereum USD is expected to generate 0.87 times more return on investment than Gatecoin Ethereum. However, Quoine Ethereum USD is 1.15 times less risky than Gatecoin Ethereum. It trades about 0.42 of its potential returns per unit of risk. Gatecoin Ethereum USD is currently generating about 0.32 per unit of risk. If you would invest  30,519  in Quoine Ethereum USD on November 12, 2017 and sell it today you would earn a total of  22,522  from holding Quoine Ethereum USD or generate 73.8% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Quoine Ethereum and Gatecoin Ethereum
0.77

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Quoine Ethereum USD

  
27 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Ethereum USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.

Gatecoin Ethereum USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.