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.
Assuming 30 trading days horizon, Quoine NEO USD is expected to generate 1.35 times more return on investment than Cexio Ethereum. However, Quoine NEO is 1.35 times more volatile than Cexio Ethereum USD. It trades about -0.06 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.16 per unit of risk. If you would invest 3,936 in Quoine NEO USD on June 16, 2018 and sell it today you would lose (567.00) from holding Quoine NEO USD or give up 14.41% of portfolio value over 30 days.
Pair Corralation between Quoine NEO and Cexio Ethereum
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.
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