Correlation Analysis Between BitTrex Ethereum and Quoine NEO

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

BitTrex Ethereum Classic USD  vs.  Quoine NEO USD

BitTrex

Ethereum Classic on BitTrex in USD

 7.36 
0.01  0.14%
Market Cap: 596.6 K
  

Quoine

NEO on Quoine in USD

 12.33 
0.40  3.14%
Market Cap: 2.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to under-perform the Quoine NEO. But the crypto apears to be less risky and, when comparing its historical volatility, BitTrex Ethereum Classic USD is 1.62 times less risky than Quoine NEO. The crypto trades about -0.23 of its potential returns per unit of risk. The Quoine NEO USD is currently generating about -0.11 of returns per unit of risk over similar time horizon. If you would invest  1,597  in Quoine NEO USD on October 18, 2018 and sell it today you would lose (324.00)  from holding Quoine NEO USD or give up 20.29% of portfolio value over 30 days.

Pair Corralation between BitTrex Ethereum and Quoine NEO

0.78
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

BitTrex Ethereum Classic USD diversification synergy

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Ethereum Cla  
0 

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Quoine NEO USD  
0 

Risk-Adjusted Performance

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

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