Pair Correlation Between Bitstamp Bitcoin and QuadrigaCX Bitcoin |
This module allows you to analyze existing cross correlation between Bitstamp Bitcoin USD and QuadrigaCX Bitcoin USD. You can compare the effects of market volatilities on Bitstamp Bitcoin and QuadrigaCX Bitcoin 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 Bitstamp Bitcoin with a short position of QuadrigaCX Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitstamp Bitcoin and QuadrigaCX Bitcoin.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
Bitstamp Bitcoin USD vs. QuadrigaCX Bitcoin USD
BitstampBitcoin on Bitstamp in USD 8,782
| QuadrigaCXBitcoin on QuadrigaCX in USD 8,806
|
Pair Volatility
Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to under-perform the QuadrigaCX Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Bitcoin USD is 1.24 times less risky than QuadrigaCX Bitcoin. The crypto trades about -0.04 of its potential returns per unit of risk. The QuadrigaCX Bitcoin USD is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 1,025,014 in QuadrigaCX Bitcoin USD on March 22, 2018 and sell it today you would lose (147,013) from holding QuadrigaCX Bitcoin USD or give up 14.34% of portfolio value over 30 days.
Pair Corralation between Bitstamp Bitcoin and QuadrigaCX Bitcoin
0.87
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp Bitcoin USD and QuadrigaCX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on QuadrigaCX Bitcoin USD and Bitstamp Bitcoin 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 Bitstamp Bitcoin USD are associated (or correlated) with QuadrigaCX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QuadrigaCX Bitcoin USD has no effect on the direction of Bitstamp Bitcoin i.e. Bitstamp Bitcoin and QuadrigaCX Bitcoin go up and down completely randomly.
Comparative Volatility
| Bitstamp Bitcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitstamp Bitcoin USD
Pair trading matchups for Bitstamp Bitcoin
| QuadrigaCX Bitcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days QuadrigaCX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
QuadrigaCX Bitcoin USD
Pair trading matchups for QuadrigaCX Bitcoin
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See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.