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.
Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 1.05 times more return on investment than Quoine NEO. However, Poloniex Stellar is 1.05 times more volatile than Quoine NEO USD. It trades about 0.04 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 36.62 in Poloniex Stellar USD on March 24, 2018 and sell it today you would earn a total of 0.54 from holding Poloniex Stellar USD or generate 1.47% return on investment over 30 days.
Pair Corralation between Poloniex Stellar and Quoine NEO
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.
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