Correlation Analysis Between HitBTC Ethereum and Quoine Ethereum

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

HitBTC Ethereum USD  vs.  Quoine Ethereum USD


Ethereum on HitBTC in USD

0.00  0.00%
Market Cap: 19.9 K


Ethereum on Quoine in USD

1.12  0.55%
Market Cap: 242.7 M
0.05% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

If you would invest  20,079  in Quoine Ethereum USD on September 17, 2018 and sell it today you would earn a total of  349.00  from holding Quoine Ethereum USD or generate 1.74% return on investment over 30 days.

Pair Corralation between HitBTC Ethereum and Quoine Ethereum

Time Period1 Month [change]
ValuesDaily Returns


Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Ethereum USD and Quoine Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Quoine Ethereum USD and HitBTC Ethereum 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 Ethereum USD are associated (or correlated) with Quoine Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quoine Ethereum USD has no effect on the direction of HitBTC Ethereum i.e. HitBTC Ethereum and Quoine Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
HitBTC Ethereum USD  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Ethereum USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.