Correlation Analysis Between Coinroom Bitcoin and Quoine Bitcoin

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

Coinroom Bitcoin USD  vs.  Quoine Bitcoin USD

Coinroom

Bitcoin on Coinroom in USD

 6,667 
107.33  1.64%
Market Cap: 10.3 B
  

Quoine

Bitcoin on Quoine in USD

 6,675 
32.26  0.48%
Market Cap: 13.7 B
(7.88)
0.12% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin USD is expected to generate 1.07 times more return on investment than Quoine Bitcoin. However, Coinroom Bitcoin is 1.07 times more volatile than Quoine Bitcoin USD. It trades about 0.06 of its potential returns per unit of risk. Quoine Bitcoin USD is currently generating about 0.01 per unit of risk. If you would invest  641,820  in Coinroom Bitcoin USD on August 24, 2018 and sell it today you would earn a total of  24,859  from holding Coinroom Bitcoin USD or generate 3.87% return on investment over 30 days.

Pair Corralation between Coinroom Bitcoin and Quoine Bitcoin

0.9
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinroom Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Quoine Bitcoin USD  
0 

Risk-Adjusted Performance

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

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