Correlation Analysis Between QuadrigaCX Bitcoin and Yobit Bitcoin

This module allows you to analyze existing cross correlation between QuadrigaCX Bitcoin USD and Yobit Bitcoin USD. You can compare the effects of market volatilities on QuadrigaCX Bitcoin and Yobit 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 Yobit Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of QuadrigaCX Bitcoin and Yobit 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.
Yobit Bitcoin USD  
0

Risk-Adjusted Performance

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

QuadrigaCX Bitcoin and Yobit Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

QuadrigaCX Bitcoin USD  vs.  Yobit Bitcoin USD

QuadrigaCX

Bitcoin on QuadrigaCX in USD

 3,600 
34.00  0.95%
Market Cap: 373.8 M
  

Yobit

Bitcoin on Yobit in USD

 3,433 
(50.76)  1.46%
Market Cap: 181.6 M
 166.68 
4.63% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to generate 1.86 times more return on investment than Yobit Bitcoin. However, QuadrigaCX Bitcoin is 1.86 times more volatile than Yobit Bitcoin USD. It trades about -0.23 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.51 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 (315,000)  from holding QuadrigaCX Bitcoin USD or give up 46.67% of portfolio value over 30 days.

Pair Corralation between QuadrigaCX Bitcoin and Yobit Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for QuadrigaCX Bitcoin and Yobit Bitcoin

QuadrigaCX Bitcoin USD diversification synergy

No risk reduction

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

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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