Pair Correlation Between QuadrigaCX Bitcoin and Exmo Bitcoin

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

QuadrigaCX

Bitcoin on QuadrigaCX in USD
 12,675 
1,169  10.16%
Market Cap: 5.2 B
(1,290)
10.18% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Exmo

Bitcoin on Exmo in USD
 13,965 
(135)  0.96%
Market Cap: 112.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to under-perform the Exmo Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, QuadrigaCX Bitcoin USD is 1.04 times less risky than Exmo Bitcoin. The crypto trades about -0.04 of its potential returns per unit of risk. The Exmo Bitcoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  1,436,900  in Exmo Bitcoin USD on December 21, 2017 and sell it today you would lose (27,001)  from holding Exmo Bitcoin USD or give up 1.88% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between QuadrigaCX Bitcoin and Exmo Bitcoin
0.96

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Exmo Bitcoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin