Correlation Analysis Between Quoine NEO and Yobit Rimbit

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

Quoine NEO USD  vs.  Yobit Rimbit USD

Quoine

NEO on Quoine in USD
 33.63 
0.30  0.90%
Market Cap: 78.6 K
  

Yobit

Rimbit on Yobit in USD
 0.001938 
0.00002  1.02%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine NEO USD is expected to under-perform the Yobit Rimbit. But the crypto apears to be less risky and, when comparing its historical volatility, Quoine NEO USD is 11.15 times less risky than Yobit Rimbit. The crypto trades about -0.33 of its potential returns per unit of risk. The Yobit Rimbit USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  0.10  in Yobit Rimbit USD on May 24, 2018 and sell it today you would earn a total of  0.09  from holding Yobit Rimbit USD or generate 93.03% return on investment over 30 days.

Pair Corralation between Quoine NEO and Yobit Rimbit

-0.7
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine NEO USD  
0 

Risk-Adjusted Performance

Over the last 30 days Quoine NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Rimbit USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

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