Correlation Analysis Between Quoine NEO and Cexio Ethereum

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

Quoine NEO USD  vs.  Cexio Ethereum USD

Quoine

NEO on Quoine in USD

 15.97 
1.55  8.85%
Market Cap: 2.3 M
  

Cexio

Ethereum on Cexio in USD

 205.82 
5.15  2.44%
Market Cap: 1.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine NEO USD is expected to generate 1.88 times more return on investment than Cexio Ethereum. However, Quoine NEO is 1.88 times more volatile than Cexio Ethereum USD. It trades about 0.12 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.02 per unit of risk. If you would invest  1,277  in Quoine NEO USD on September 18, 2018 and sell it today you would earn a total of  320.00  from holding Quoine NEO USD or generate 25.06% return on investment over 30 days.

Pair Corralation between Quoine NEO and Cexio Ethereum

0.12
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy74.19%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine NEO USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine NEO USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Cexio Ethereum USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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