Pair Correlation Between HitBTC NEM and Quoine NEO |
This module allows you to analyze existing cross correlation between HitBTC NEM USD and Quoine NEO USD. You can compare the effects of market volatilities on HitBTC NEM 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 HitBTC NEM with a short position of Quoine NEO. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC NEM and Quoine NEO.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
HitBTC NEM USD vs. Quoine NEO USD
HitBTCNEM on HitBTC in USD 0.37
| QuoineNEO on Quoine in USD 75.20
|
Pair Volatility
Assuming 30 trading days horizon, HitBTC NEM USD is expected to generate 1.01 times more return on investment than Quoine NEO. However, HitBTC NEM is 1.01 times more volatile than Quoine NEO USD. It trades about 0.01 of its potential returns per unit of risk. Quoine NEO USD is currently generating about -0.06 per unit of risk. If you would invest 40.52 in HitBTC NEM USD on March 26, 2018 and sell it today you would lose (3.49) from holding HitBTC NEM USD or give up 8.61% of portfolio value over 30 days.
Pair Corralation between HitBTC NEM and Quoine NEO
0.9
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC NEM 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 HitBTC NEM 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 HitBTC NEM 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 HitBTC NEM i.e. HitBTC NEM and Quoine NEO go up and down completely randomly.
Comparative Volatility
| HitBTC NEM USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days HitBTC NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC NEM USD
Pair trading matchups for HitBTC NEM
| Quoine NEO USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Quoine NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Quoine NEO USD
Pair trading matchups for Quoine NEO
My Equities
My Current Equities and Potential Positions
Thematic Opportunities
Explore Investment Opportunities
See also your portfolio center. Please also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.