Correlation Analysis Between Cexio Ethereum and Quoine NEO

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.
Horizon     30 Days    Login   to change
Symbolsvs

Cexio Ethereum USD  vs.  Quoine NEO USD

Cexio

Ethereum on Cexio in USD

 209.09 
1.88  0.89%
Market Cap: 1.6 M
  

Quoine

NEO on Quoine in USD

 18.50 
0.90  5.11%
Market Cap: 156.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 19.31 times less return on investment than Quoine NEO. But when comparing it to its historical volatility, Cexio Ethereum USD is 1.68 times less risky than Quoine NEO. It trades about 0.02 of its potential returns per unit of risk. Quoine NEO USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  1,277  in Quoine NEO USD on September 18, 2018 and sell it today you would earn a total of  573.00  from holding Quoine NEO USD or generate 44.87% return on investment over 30 days.

Pair Corralation between Cexio Ethereum and Quoine NEO

-0.15
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Good diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 
Cexio Ethereum USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
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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