This module allows you to analyze existing cross correlation between Poloniex Bitcoin USD and Quoine Bitcoin USD. You can compare the effects of market volatilities on Poloniex 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 Poloniex Bitcoin with a short position of Quoine Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Poloniex Bitcoin
and Quoine Bitcoin
Poloniex Bitcoin USD vs. Quoine Bitcoin USD
Assuming 30 trading days horizon, Poloniex Bitcoin is expected to generate 3.39 times less return on investment than Quoine Bitcoin. In addition to that, Poloniex Bitcoin is 1.15 times more volatile than Quoine Bitcoin USD. It trades about 0.03 of its total potential returns per unit of risk. Quoine Bitcoin USD is currently generating about 0.1 per unit of volatility. If you would invest 670,769 in Quoine Bitcoin USD on June 17, 2018 and sell it today you would earn a total of 57,225 from holding Quoine Bitcoin USD or generate 8.53% return on investment over 30 days.
Pair Corralation between Poloniex Bitcoin and Quoine Bitcoin
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Poloniex 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 Poloniex 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 Poloniex 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 Poloniex Bitcoin i.e. Poloniex Bitcoin and Quoine Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Quoine Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
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