Correlation Analysis Between Quoine NEO and Yobit SibCoin

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

Quoine NEO USD  vs.  Yobit SibCoin USD

Quoine

NEO on Quoine in USD
 36.61 
0.11  0.30%
Market Cap: 54.2 K
  

Yobit

SibCoin on Yobit in USD
 0.49 
0.08  19.34%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine NEO USD is expected to under-perform the Yobit SibCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Quoine NEO USD is 1.33 times less risky than Yobit SibCoin. The crypto trades about -0.01 of its potential returns per unit of risk. The Yobit SibCoin USD is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  41.00  in Yobit SibCoin USD on June 16, 2018 and sell it today you would earn a total of  8.00  from holding Yobit SibCoin USD or generate 19.51% return on investment over 30 days.

Pair Corralation between Quoine NEO and Yobit SibCoin

-0.63
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy67.74%
ValuesDaily Returns

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Quoine NEO USD and Yobit SibCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit SibCoin 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 SibCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit SibCoin USD has no effect on the direction of Quoine NEO i.e. Quoine NEO and Yobit SibCoin 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 SibCoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SibCoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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ExchangeNASDAQ
$1183.86

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