Pair Correlation Between HitBTC Stratis and Quoine NEO

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

HitBTC Stratis USD  vs.  Quoine NEO USD

HitBTC

Stratis on HitBTC in USD
 6.69 
0.41  6.53%
Market Cap: 20.5 K
  

Quoine

NEO on Quoine in USD
 81.18 
3.41  4.38%
Market Cap: 2.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Stratis USD is expected to generate 0.93 times more return on investment than Quoine NEO. However, HitBTC Stratis USD is 1.07 times less risky than Quoine NEO. It trades about 0.01 of its potential returns per unit of risk. Quoine NEO USD is currently generating about -0.05 per unit of risk. If you would invest  738.00  in HitBTC Stratis USD on March 25, 2018 and sell it today you would lose (69.00)  from holding HitBTC Stratis USD or give up 9.35% of portfolio value over 30 days.

Pair Corralation between HitBTC Stratis and Quoine NEO

0.84
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Stratis USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Stratis USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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.

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Alphabet
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ExchangeNASDAQ
$1011.53

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