This module allows you to analyze existing cross correlation between Quoine Ethereum USD and Yobit Ethereum USD. You can compare the effects of market volatilities on Quoine Ethereum and Yobit Ethereum 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 Quoine Ethereum with a short position of Yobit Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Quoine Ethereum
and Yobit Ethereum
Quoine Ethereum USD vs Yobit Ethereum USD
Assuming 30 trading days horizon, Quoine Ethereum USD is expected to under-perform the Yobit Ethereum. In addition to that, Quoine Ethereum is 1.09 times more volatile than Yobit Ethereum USD. It trades about -0.09 of its total potential returns per unit of risk. Yobit Ethereum USD is currently generating about -0.07 per unit of volatility. If you would invest 106,100 in Yobit Ethereum USD on January 23, 2018 and sell it today you would lose (20,119) from holding Yobit Ethereum USD or give up 18.96% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Quoine Ethereum USD and Yobit Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Ethereum USD and Quoine 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 Quoine Ethereum USD are associated (or correlated) with Yobit Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Ethereum USD has no effect on the direction of Quoine Ethereum i.e. Quoine Ethereum and Yobit Ethereum go up and down completely randomly.
Over the last 30 days Quoine Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.