Pair Correlation Between QuadrigaCX Bitcoin and Kraken Bitcoin |
This module allows you to analyze existing cross correlation between QuadrigaCX Bitcoin USD and Kraken Bitcoin USD. You can compare the effects of market volatilities on QuadrigaCX Bitcoin and Kraken 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 Kraken Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of QuadrigaCX Bitcoin and Kraken Bitcoin.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
QuadrigaCX Bitcoin USD vs. Kraken Bitcoin USD
QuadrigaCXBitcoin on QuadrigaCX in USD 8,750
| KrakenBitcoin on Kraken in USD 8,852
|
Pair Volatility
Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to generate 1.3 times more return on investment than Kraken Bitcoin. However, QuadrigaCX Bitcoin is 1.3 times more volatile than Kraken Bitcoin USD. It trades about -0.02 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest 1,040,000 in QuadrigaCX Bitcoin USD on March 27, 2018 and sell it today you would lose (164,999) from holding QuadrigaCX Bitcoin USD or give up 15.87% of portfolio value over 30 days.
Pair Corralation between QuadrigaCX Bitcoin and Kraken Bitcoin
0.97
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 98.36% |
| Values | Daily Returns |
Diversification
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding QuadrigaCX Bitcoin USD and Kraken Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken 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 Kraken Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Bitcoin USD has no effect on the direction of QuadrigaCX Bitcoin i.e. QuadrigaCX Bitcoin and Kraken Bitcoin go up and down completely randomly.
Comparative Volatility
| QuadrigaCX Bitcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver 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
| Kraken Bitcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Kraken Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Kraken Bitcoin USD
Pair trading matchups for Kraken Bitcoin
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