Pair Correlation Between Quoine NEO and BitTrex Ethereum

This module allows you to analyze existing cross correlation between Quoine NEO USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on Quoine NEO and BitTrex 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 NEO with a short position of BitTrex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Quoine NEO and BitTrex Ethereum.
 Time Horizon     30 Days    Login   to change
 Quoine NEO USD  vs   BitTrex Ethereum Classic USD


NEO on Quoine in USD
8.2  5.79%
Market Cap: 2.9 M


Ethereum Classic on BitTrex in USD
1.99  6.63%
Market Cap: 88.6 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Quoine NEO USD is expected to generate 1.97 times more return on investment than BitTrex Ethereum. However, Quoine NEO is 1.97 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.11 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.01 per unit of risk. If you would invest  15,000  in Quoine NEO USD on December 20, 2017 and sell it today you would lose (830)  from holding Quoine NEO USD or give up 5.53% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Quoine NEO and BitTrex Ethereum


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Quoine NEO USD and BitTrex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum Cla and Quoine NEO 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 NEO USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum Cla has no effect on the direction of Quoine NEO i.e. Quoine NEO and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

Quoine NEO USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine NEO USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Quoine NEO USD

Pair trading matchups for Quoine NEO

BitTrex Ethereum Cla


Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.

BitTrex Ethereum Classic USD

Pair trading matchups for BitTrex Ethereum