Pair Correlation Between Quoine Bitcoin and TrustDEX Bitcoin

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

Quoine Bitcoin USD  vs.  TrustDEX Bitcoin USD

Quoine

Bitcoin on Quoine in USD
 8,476 
203.02  2.45%
Market Cap: 36.8 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 9,332 
244.20  2.69%
Market Cap: 192.4 B
(856.06)
10.10% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Bitcoin USD is expected to under-perform the TrustDEX Bitcoin. In addition to that, Quoine Bitcoin is 1.0 times more volatile than TrustDEX Bitcoin USD. It trades about -0.1 of its total potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about -0.07 per unit of volatility. If you would invest  1,230,020  in TrustDEX Bitcoin USD on March 21, 2018 and sell it today you would lose (296,780)  from holding TrustDEX Bitcoin USD or give up 24.13% of portfolio value over 30 days.

Pair Corralation between Quoine Bitcoin and TrustDEX Bitcoin

0.99
Time Period2 Months [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 TrustDEX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on TrustDEX 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 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 Quoine Bitcoin i.e. Quoine Bitcoin and TrustDEX 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.
TrustDEX Bitcoin USD  
0 

Risk-Adjusted Performance

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

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1084.2

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See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.