Pair Correlation 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 QuadrigaCX Bitcoin USD  vs   Yobit Bitcoin USD

QuadrigaCX

Bitcoin on QuadrigaCX in USD
 11,900 
200.01  1.71%
Market Cap: 5.2 B
(1,228)
10.32% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Yobit

Bitcoin on Yobit in USD
 13,128 
(522.22)  3.83%
Market Cap: 31.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to under-perform the Yobit Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, QuadrigaCX Bitcoin USD is 1.06 times less risky than Yobit Bitcoin. The crypto trades about -0.16 of its potential returns per unit of risk. The Yobit Bitcoin USD is currently generating about -0.08 of returns per unit of risk over similar time horizon. If you would invest  1,797,147  in Yobit Bitcoin USD on December 19, 2017 and sell it today you would lose (432,147)  from holding Yobit Bitcoin USD or give up 24.05% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between QuadrigaCX Bitcoin and Yobit Bitcoin
0.95

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 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.

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

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.

Yobit Bitcoin USD

Pair trading matchups for Yobit Bitcoin