This module allows you to analyze existing cross correlation between Bitstamp Ethereum USD and Quoine Ethereum USD. You can compare the effects of market volatilities on Bitstamp 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 Bitstamp Ethereum with a short position of Quoine Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Bitstamp Ethereum
and Quoine Ethereum
Bitstamp Ethereum USD vs Quoine Ethereum USD
Assuming 30 trading days horizon, Bitstamp Ethereum is expected to generate 2.59 times less return on investment than Quoine Ethereum. But when comparing it to its historical volatility, Bitstamp Ethereum USD is 2.87 times less risky than Quoine Ethereum. It trades about 0.14 of its potential returns per unit of risk. Quoine Ethereum USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 78,500 in Quoine Ethereum USD on December 18, 2017 and sell it today you would earn a total of 26,413 from holding Quoine Ethereum USD or generate 33.65% return on investment over 30 days.
|Time Period||1 Month [change]|
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp 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 Bitstamp 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 Bitstamp 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 Bitstamp Ethereum i.e. Bitstamp Ethereum and Quoine Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 9 (%) 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 8 (%) of all global equities and portfolios over the last 30 days.