Pair Correlation Between Tidex Ethereum and Quoine Ethereum

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

Tidex

Ethereum on Tidex in USD
 984.88 
0.001126  0.0001%
Market Cap: 96 K
 60.88 

Quoine

Ethereum on Quoine in USD
 924.00 
11.00  1.18%
Market Cap: 160.8 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  96,990  in Quoine Ethereum USD on January 21, 2018 and sell it today you would lose (4,590)  from holding Quoine Ethereum USD or give up 4.73% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Ethereum and Quoine Ethereum
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy3.33%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Quoine Ethereum USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.