This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Quoine NEO USD. You can compare the effects of market volatilities on Cexio 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 Cexio Ethereum with a short position of Quoine NEO. See also your portfolio center. Please also check ongoing floating volatility patterns of Cexio Ethereum and Quoine NEO.
Assuming 30 trading days horizon, Cexio Ethereum USD is expected to generate 0.8 times more return on investment than Quoine NEO. However, Cexio Ethereum USD is 1.26 times less risky than Quoine NEO. It trades about -0.07 of its potential returns per unit of risk. Quoine NEO USD is currently generating about -0.12 per unit of risk. If you would invest 88,303 in Cexio Ethereum USD on March 27, 2018 and sell it today you would lose (24,655) from holding Cexio Ethereum USD or give up 27.92% of portfolio value over 30 days.
Pair Corralation between Cexio Ethereum and Quoine NEO
Overlapping area represents the amount of risk that can be diversified away by holding Cexio Ethereum 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 Cexio 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 Cexio Ethereum 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 Cexio Ethereum i.e. Cexio Ethereum and Quoine NEO go up and down completely randomly.
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