Pair Correlation Between Poloniex Stellar and Quoine NEO

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

Poloniex

Stellar on Poloniex in USD
 0.51 
0.0101  2.01%
Market Cap: 2 M

Quoine

NEO on Quoine in USD
 160 
11  7.38%
Market Cap: 2.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar is expected to generate 1.06 times less return on investment than Quoine NEO. But when comparing it to its historical volatility, Poloniex Stellar USD is 1.04 times less risky than Quoine NEO. It trades about 0.24 of its potential returns per unit of risk. Quoine NEO USD is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest  6,060  in Quoine NEO USD on December 21, 2017 and sell it today you would earn a total of  9,940  from holding Quoine NEO USD or generate 164.03% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Stellar and Quoine NEO
0.24

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Stellar USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar

Quoine NEO USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine NEO USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Quoine NEO USD

Pair trading matchups for Quoine NEO