This module allows you to analyze existing cross correlation between Cexio Bitcoin USD and Quoine Bitcoin USD. You can compare the effects of market volatilities on Cexio Bitcoin and Quoine 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 Cexio Bitcoin with a short position of Quoine Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Cexio Bitcoin
and Quoine Bitcoin
Cexio Bitcoin USD vs Quoine Bitcoin USD
Assuming 30 trading days horizon, Cexio Bitcoin USD is expected to under-perform the Quoine Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Bitcoin USD is 1.09 times less risky than Quoine Bitcoin. The crypto trades about -0.08 of its potential returns per unit of risk. The Quoine Bitcoin USD is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 1,403,962 in Quoine Bitcoin USD on December 24, 2017 and sell it today you would lose (307,493) from holding Quoine Bitcoin USD or give up 21.9% of portfolio value 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 Cexio Bitcoin USD and Quoine Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Quoine Bitcoin USD and Cexio 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 Cexio Bitcoin USD are associated (or correlated) with Quoine Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quoine Bitcoin USD has no effect on the direction of Cexio Bitcoin i.e. Cexio Bitcoin and Quoine Bitcoin go up and down completely randomly.
Over the last 30 days Cexio Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Quoine Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.