This module allows you to analyze existing cross correlation between Kraken Monero USD and Quoine NEO USD. You can compare the effects of market volatilities on Kraken Monero 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 Kraken Monero with a short position of Quoine NEO. See also your portfolio center
. Please also check ongoing floating volatility patterns of Kraken Monero
and Quoine NEO
Kraken Monero USD vs. Quoine NEO USD
Assuming 30 trading days horizon, Kraken Monero USD is expected to generate 0.92 times more return on investment than Quoine NEO. However, Kraken Monero USD is 1.08 times less risky than Quoine NEO. It trades about 0.04 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 27,669 in Kraken Monero USD on March 24, 2018 and sell it today you would earn a total of 410.00 from holding Kraken Monero USD or generate 1.48% return on investment over 30 days.
Pair Corralation between Kraken Monero and Quoine NEO
|Time Period||2 Months [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero 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 Kraken Monero 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 Kraken Monero 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 Kraken Monero i.e. Kraken Monero and Quoine NEO go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
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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