Pair Correlation 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

HitBTC Ethereum USD  vs.  Quoine Ethereum USD

HitBTC

Ethereum on HitBTC in USD
 658.03 
8.82  1.36%
Market Cap: 2.2 B
  

Quoine

Ethereum on Quoine in USD
 640.00 
11.00  1.75%
Market Cap: 260.5 K
 18.03 
2.74% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Ethereum USD is expected to under-perform the Quoine Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Ethereum USD is 1.2 times less risky than Quoine Ethereum. The crypto trades about -0.08 of its potential returns per unit of risk. The Quoine Ethereum USD is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  83,200  in Quoine Ethereum USD on March 24, 2018 and sell it today you would lose (19,200)  from holding Quoine Ethereum USD or give up 23.08% of portfolio value over 30 days.

Pair Corralation between HitBTC Ethereum and Quoine Ethereum

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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 
      Returns 
HitBTC Ethereum USD  
0 

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  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1078.13

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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.