This module allows you to analyze existing cross correlation between HitBTC PeerCoin USD and Quoine NEO USD. You can compare the effects of market volatilities on HitBTC PeerCoin 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 HitBTC PeerCoin with a short position of Quoine NEO. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC PeerCoin
and Quoine NEO
HitBTC PeerCoin USD vs. Quoine NEO USD
Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to generate 0.77 times more return on investment than Quoine NEO. However, HitBTC PeerCoin USD is 1.3 times less risky than Quoine NEO. It trades about -0.06 of its potential returns per unit of risk. Quoine NEO USD is currently generating about -0.06 per unit of risk. If you would invest 331.00 in HitBTC PeerCoin USD on March 24, 2018 and sell it today you would lose (79.00) from holding HitBTC PeerCoin USD or give up 23.87% of portfolio value over 30 days.
Pair Corralation between HitBTC PeerCoin and Quoine NEO
|Time Period||2 Months [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC PeerCoin 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 HitBTC PeerCoin 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 HitBTC PeerCoin 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 HitBTC PeerCoin i.e. HitBTC PeerCoin and Quoine NEO go up and down completely randomly.
Over the last 30 days HitBTC PeerCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Quoine NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.