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 under-perform the Quoine NEO. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Ethereum USD is 1.35 times less risky than Quoine NEO. The crypto trades about -0.16 of its potential returns per unit of risk. The Quoine NEO USD is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest 3,936 in Quoine NEO USD on June 16, 2018 and sell it today you would lose (567.00) from holding Quoine NEO USD or give up 14.41% 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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