Correlation Analysis Between Coinroom Bitcoin and QuadrigaCX Bitcoin

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

Comparative Performance

Coinroom Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Coinroom Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
QuadrigaCX Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days QuadrigaCX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Coinroom Bitcoin and QuadrigaCX Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinroom Bitcoin USD  vs.  QuadrigaCX Bitcoin USD

Coinroom

Bitcoin on Coinroom in USD

 3,438 
286.92  9.10%
Market Cap: 1.9 B
  

QuadrigaCX

Bitcoin on QuadrigaCX in USD

 3,566 
(34.00)  0.94%
Market Cap: 35.9 M
(127.61)
3.71% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin USD is expected to under-perform the QuadrigaCX Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Coinroom Bitcoin USD is 1.23 times less risky than QuadrigaCX Bitcoin. The crypto trades about -0.35 of its potential returns per unit of risk. The QuadrigaCX Bitcoin USD is currently generating about -0.25 of returns per unit of risk over similar time horizon. If you would invest  675,000  in QuadrigaCX Bitcoin USD on November 15, 2018 and sell it today you would lose (318,400)  from holding QuadrigaCX Bitcoin USD or give up 47.17% of portfolio value over 30 days.

Pair Corralation between Coinroom Bitcoin and QuadrigaCX Bitcoin

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy93.18%
ValuesDaily Returns

Diversification Opportunities for Coinroom Bitcoin and QuadrigaCX Bitcoin

Coinroom Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinroom 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 Coinroom 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 Coinroom 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 Coinroom Bitcoin i.e. Coinroom Bitcoin and QuadrigaCX Bitcoin go up and down completely randomly.

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