Correlation Analysis Between QuadrigaCX Bitcoin and Bitstamp Bitcoin

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

Comparative Performance

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.
Bitstamp Bitcoin USD  
0

Risk-Adjusted Performance

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

QuadrigaCX Bitcoin and Bitstamp Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

QuadrigaCX Bitcoin USD  vs.  Bitstamp Bitcoin USD

QuadrigaCX

Bitcoin on QuadrigaCX in USD

 3,566 
(34.00)  0.94%
Market Cap: 35.9 M
  

Bitstamp

Bitcoin on Bitstamp in USD

 3,134 
(73.64)  2.30%
Market Cap: 121.4 B
 432.19 
12.12% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to generate 1.52 times more return on investment than Bitstamp Bitcoin. However, QuadrigaCX Bitcoin is 1.52 times more volatile than Bitstamp Bitcoin USD. It trades about -0.25 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about -0.42 per unit of risk. If you would invest  675,000  in QuadrigaCX Bitcoin USD on November 15, 2018 and sell it today you would lose (318,400)  from holding QuadrigaCX Bitcoin USD or give up 47.17% of portfolio value over 30 days.

Pair Corralation between QuadrigaCX Bitcoin and Bitstamp Bitcoin

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy93.18%
ValuesDaily Returns

Diversification Opportunities for QuadrigaCX Bitcoin and Bitstamp Bitcoin

QuadrigaCX Bitcoin USD diversification synergy

Almost no diversification

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

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