Pair Correlation Between Yobit SibCoin and Quoine NEO

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

Yobit

SibCoin on Yobit in USD
 3.8 
0.4  11.76%
Market Cap: 1 K

Quoine

NEO on Quoine in USD
 144 
(5.4)  3.61%
Market Cap: 2.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SibCoin is expected to generate 1.91 times less return on investment than Quoine NEO. In addition to that, Yobit SibCoin is 1.05 times more volatile than Quoine NEO USD. It trades about 0.12 of its total potential returns per unit of risk. Quoine NEO USD is currently generating about 0.23 per unit of volatility. If you would invest  5,970  in Quoine NEO USD on December 22, 2017 and sell it today you would earn a total of  8,540  from holding Quoine NEO USD or generate 143.05% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit SibCoin and Quoine NEO
-0.39

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit SibCoin 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 SibCoin 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 SibCoin 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 SibCoin i.e. Yobit SibCoin and Quoine NEO go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit SibCoin USD

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SibCoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

Yobit SibCoin USD

Pair trading matchups for Yobit SibCoin

Quoine NEO USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine NEO USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Quoine NEO USD

Pair trading matchups for Quoine NEO