Pair Correlation Between QuadrigaCX Bitcoin and TrustDEX Bitcoin

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

QuadrigaCX

Bitcoin on QuadrigaCX in USD
 10,555 
(655.91)  5.85%
Market Cap: 5.2 B
(1,303)
12.34% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

TrustDEX

Bitcoin on TrustDEX in USD
 11,858 
741.4  6.67%
Market Cap: 703.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to under-perform the TrustDEX Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, QuadrigaCX Bitcoin USD is 26.01 times less risky than TrustDEX Bitcoin. The crypto trades about -0.22 of its potential returns per unit of risk. The TrustDEX Bitcoin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.00  in TrustDEX Bitcoin USD on December 18, 2017 and sell it today you would earn a total of  1,096,700  from holding TrustDEX Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between QuadrigaCX Bitcoin and TrustDEX 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 TrustDEX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on TrustDEX 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 TrustDEX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TrustDEX Bitcoin USD has no effect on the direction of QuadrigaCX Bitcoin i.e. QuadrigaCX Bitcoin and TrustDEX 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

TrustDEX Bitcoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin