This module allows you to analyze existing cross correlation between Yobit EmberCoin USD and Quoine NEO USD. You can compare the effects of market volatilities on Yobit EmberCoin and Quoine NEO 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 Yobit EmberCoin with a short position of Quoine NEO. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit EmberCoin
and Quoine NEO
Yobit EmberCoin USD vs Quoine NEO USD
Assuming 30 trading days horizon, Yobit EmberCoin USD is expected to generate 2.39 times more return on investment than Quoine NEO. However, Yobit EmberCoin is 2.39 times more volatile than Quoine NEO USD. It trades about 0.25 of its potential returns per unit of risk. Quoine NEO USD is currently generating about 0.11 per unit of risk. If you would invest 0.01 in Yobit EmberCoin USD on December 20, 2017 and sell it today you would earn a total of 0.02 from holding Yobit EmberCoin USD or generate 214.29% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit EmberCoin USD and Quoine NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Quoine NEO USD and Yobit EmberCoin 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 Yobit EmberCoin USD are associated (or correlated) with Quoine NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quoine NEO USD has no effect on the direction of Yobit EmberCoin i.e. Yobit EmberCoin and Quoine NEO go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EmberCoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Quoine NEO USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.