Pair Correlation Between HitBTC Bitcoin and QuadrigaCX Bitcoin

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

HitBTC Bitcoin USD  vs.  QuadrigaCX Bitcoin USD

HitBTC

Bitcoin on HitBTC in USD
 9,337 
6.63  0.0711%
Market Cap: 317.4 B
  

QuadrigaCX

Bitcoin on QuadrigaCX in USD
 9,600 
373.45  4.05%
Market Cap: 773.8 M
(262.55)
2.81% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bitcoin USD is expected to under-perform the QuadrigaCX Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Bitcoin USD is 1.36 times less risky than QuadrigaCX Bitcoin. The crypto trades about 0.0 of its potential returns per unit of risk. The QuadrigaCX Bitcoin USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  1,000,839  in QuadrigaCX Bitcoin USD on March 25, 2018 and sell it today you would lose (30,939)  from holding QuadrigaCX Bitcoin USD or give up 3.09% of portfolio value over 30 days.

Pair Corralation between HitBTC Bitcoin and QuadrigaCX Bitcoin

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
QuadrigaCX Bitcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in QuadrigaCX Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
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