This module allows you to analyze existing cross correlation between Bitfinex Ethereum USD and Quoine Ethereum USD. You can compare the effects of market volatilities on Bitfinex 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 Bitfinex Ethereum with a short position of Quoine Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Bitfinex Ethereum
and Quoine Ethereum
Bitfinex Ethereum USD vs Quoine Ethereum USD
Assuming 30 trading days horizon, Bitfinex Ethereum is expected to generate 1.47 times less return on investment than Quoine Ethereum. But when comparing it to its historical volatility, Bitfinex Ethereum USD is 2.87 times less risky than Quoine Ethereum. It trades about 0.29 of its potential returns per unit of risk. Quoine Ethereum USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 77,208 in Quoine Ethereum USD on December 21, 2017 and sell it today you would earn a total of 40,473 from holding Quoine Ethereum USD or generate 52.42% return on investment over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex 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 Bitfinex 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 Bitfinex 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 Bitfinex Ethereum i.e. Bitfinex Ethereum and Quoine Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.