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 |
| Symbols | vs |
HitBTC Verge USD vs. Quoine NEO USD
HitBTCVerge on HitBTC in USD 0.06903
| QuoineNEO on Quoine in USD 82.32
|
Pair Volatility
Assuming 30 trading days horizon, HitBTC Verge USD is expected to generate 1.74 times more return on investment than Quoine NEO. However, HitBTC Verge is 1.74 times more volatile than Quoine NEO USD. It trades about 0.07 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 6.26 in HitBTC Verge USD on March 25, 2018 and sell it today you would earn a total of 0.70 from holding HitBTC Verge USD or generate 11.12% return on investment over 30 days.
Pair Corralation between HitBTC Verge and Quoine NEO
-0.17
| Time Period | 2 Months [change] |
| Direction | Negative |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Good diversification
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
| HitBTC Verge USD |
4 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
HitBTC Verge USD
Pair trading matchups for HitBTC Verge
| Quoine NEO USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Quoine NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Quoine NEO USD
Pair trading matchups for Quoine NEO
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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.