Pair Correlation Between Gatecoin Bitcoin and QuadrigaCX Bitcoin

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

Gatecoin

Bitcoin on Gatecoin in USD
 12,989 
388.8  3.09%
Market Cap: 2.8 B
 178.8 

QuadrigaCX

Bitcoin on QuadrigaCX in USD
 12,810 
810  6.75%
Market Cap: 5.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Bitcoin USD is expected to under-perform the QuadrigaCX Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Gatecoin Bitcoin USD is 1.05 times less risky than QuadrigaCX Bitcoin. The crypto trades about -0.07 of its potential returns per unit of risk. The QuadrigaCX Bitcoin USD is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  1,486,898  in QuadrigaCX Bitcoin USD on December 21, 2017 and sell it today you would lose (236,692)  from holding QuadrigaCX Bitcoin USD or give up 15.92% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Bitcoin and QuadrigaCX Bitcoin
0.87

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Gatecoin Bitcoin USD

  
0 

Risk-Adjusted Performance

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

Gatecoin Bitcoin USD

Pair trading matchups for Gatecoin Bitcoin

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.

QuadrigaCX Bitcoin USD

Pair trading matchups for QuadrigaCX Bitcoin