Quoine NEO USD vs. Yobit Reddcoin USD
Assuming 30 trading days horizon, Quoine NEO USD is expected to under-perform the Yobit Reddcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Quoine NEO USD is 1.79 times less risky than Yobit Reddcoin. The crypto trades about -0.39 of its potential returns per unit of risk. The Yobit Reddcoin USD is currently generating about -0.07 of returns per unit of risk over similar time horizon. If you would invest 0.74 in Yobit Reddcoin USD on May 21, 2018 and sell it today you would lose (0.13) from holding Yobit Reddcoin USD or give up 17.91% of portfolio value over 30 days.
Pair Corralation between Quoine NEO and Yobit Reddcoin
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Quoine NEO USD and Yobit Reddcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Reddcoin 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 Reddcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Reddcoin USD has no effect on the direction of Quoine NEO i.e. Quoine NEO and Yobit Reddcoin go up and down completely randomly.
Over the last 30 days Quoine NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Reddcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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