This module allows you to analyze existing cross correlation between Quoine Bitcoin USD and Exmo Bitcoin USD. You can compare the effects of market volatilities on Quoine Bitcoin and Exmo 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 Exmo Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Quoine Bitcoin
and Exmo Bitcoin
Quoine Bitcoin USD vs Exmo Bitcoin USD
Assuming 30 trading days horizon, Quoine Bitcoin USD is expected to under-perform the Exmo Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Quoine Bitcoin USD is 1.03 times less risky than Exmo Bitcoin. The crypto trades about -0.18 of its potential returns per unit of risk. The Exmo Bitcoin USD is currently generating about -0.14 of returns per unit of risk over similar time horizon. If you would invest 1,905,157 in Exmo Bitcoin USD on December 17, 2017 and sell it today you would lose (578,825) from holding Exmo Bitcoin USD or give up 30.38% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Quoine Bitcoin USD and Exmo Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo 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 Exmo Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Bitcoin USD has no effect on the direction of Quoine Bitcoin i.e. Quoine Bitcoin and Exmo Bitcoin go up and down completely randomly.
Over the last 30 days Quoine Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.