Pair Correlation Between HitBTC Verge and Quoine NEO

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

HitBTC

Verge on HitBTC in USD
 0.11 
(0.0013)  1.18%
Market Cap: 406.6 K

Quoine

NEO on Quoine in USD
 149.4 
0.4  0.27%
Market Cap: 2.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Verge is expected to generate 2.03 times less return on investment than Quoine NEO. In addition to that, HitBTC Verge is 1.27 times more volatile than Quoine NEO USD. It trades about 0.09 of its total potential returns per unit of risk. Quoine NEO USD is currently generating about 0.24 per unit of volatility. If you would invest  6,060  in Quoine NEO USD on December 21, 2017 and sell it today you would earn a total of  8,840  from holding Quoine NEO USD or generate 145.87% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Verge and Quoine NEO
-0.73

Parameters

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

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Verge USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

HitBTC Verge USD

Pair trading matchups for HitBTC Verge

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