Correlation Analysis Between Quoine Bitcoin and Coinbase Bitcoin

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

Quoine Bitcoin USD  vs.  Coinbase Bitcoin USD

Quoine

Bitcoin on Quoine in USD

 6,374 
52.68  0.82%
Market Cap: 4.5 B
  

Coinbase

Bitcoin on Coinbase in USD

 6,395 
38.16  0.59%
Market Cap: 51.6 B
(20.85)
0.33% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Bitcoin USD is expected to generate 1.12 times more return on investment than Coinbase Bitcoin. However, Quoine Bitcoin is 1.12 times more volatile than Coinbase Bitcoin USD. It trades about -0.08 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.09 per unit of risk. If you would invest  670,693  in Quoine Bitcoin USD on September 21, 2018 and sell it today you would lose (27,980)  from holding Quoine Bitcoin USD or give up 4.17% of portfolio value over 30 days.

Pair Corralation between Quoine Bitcoin and Coinbase Bitcoin

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine Bitcoin USD  
0 

Risk-Adjusted Performance

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

Quoine Bitcoin USD

Pair trading matchups for Quoine Bitcoin

Coinbase Bitcoin USD  
0 

Risk-Adjusted Performance

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

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
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