This module allows you to analyze existing cross correlation between Quoine NEO USD and Yobit eMark USD. You can compare the effects of market volatilities on Quoine NEO and Yobit eMark 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 Yobit eMark. See also your portfolio center. Please also check ongoing floating volatility patterns of Quoine NEO and Yobit eMark.
Assuming 30 trading days horizon, Quoine NEO USD is expected to under-perform the Yobit eMark. But the crypto apears to be less risky and, when comparing its historical volatility, Quoine NEO USD is 5.56 times less risky than Yobit eMark. The crypto trades about -0.01 of its potential returns per unit of risk. The Yobit eMark USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 2.00 in Yobit eMark USD on June 16, 2018 and sell it today you would lose (0.63) from holding Yobit eMark USD or give up 31.55% of portfolio value over 30 days.
Pair Corralation between Quoine NEO and Yobit eMark
Overlapping area represents the amount of risk that can be diversified away by holding Quoine NEO USD and Yobit eMark USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit eMark 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 Yobit eMark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit eMark USD has no effect on the direction of Quoine NEO i.e. Quoine NEO and Yobit eMark go up and down completely randomly.
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