Pair Correlation Between QuadrigaCX Bitcoin and Abucoins Bitcoin

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

QuadrigaCX

Bitcoin on QuadrigaCX in USD
 11,465 
(235.04)  2.01%
Market Cap: 5.2 B
 316.49 

Abucoins

Bitcoin on Abucoins in USD
 11,148 
(645.32)  5.47%
Market Cap: 1.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to under-perform the Abucoins Bitcoin. In addition to that, QuadrigaCX Bitcoin is 1.25 times more volatile than Abucoins Bitcoin USD. It trades about -0.22 of its total potential returns per unit of risk. Abucoins Bitcoin USD is currently generating about -0.22 per unit of volatility. If you would invest  1,834,462  in Abucoins Bitcoin USD on December 18, 2017 and sell it today you would lose (655,062)  from holding Abucoins Bitcoin USD or give up 35.71% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between QuadrigaCX Bitcoin and Abucoins Bitcoin
0.97

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.77%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

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

Abucoins Bitcoin USD

  
0 

Risk-Adjusted Performance

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

Abucoins Bitcoin USD

Pair trading matchups for Abucoins Bitcoin