This module allows you to analyze existing cross correlation between Bitfinex Recovery Right Tokens USD and Quoine NEO USD. You can compare the effects of market volatilities on Bitfinex Recovery 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 Bitfinex Recovery with a short position of Quoine NEO. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Recovery and Quoine NEO.
Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to under-perform the Quoine NEO. In addition to that, Bitfinex Recovery is 1.28 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 -0.06 per unit of volatility. If you would invest 3,936 in Quoine NEO USD on June 16, 2018 and sell it today you would lose (567.00) from holding Quoine NEO USD or give up 14.41% of portfolio value over 30 days.
Pair Corralation between Bitfinex Recovery and Quoine NEO
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Recovery Right Tokens 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 Bitfinex Recovery 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 Bitfinex Recovery Right Tokens 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 Bitfinex Recovery i.e. Bitfinex Recovery and Quoine NEO go up and down completely randomly.
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