This module allows you to analyze existing cross correlation between Quoine NEO USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on Quoine NEO and BitTrex Ethereum 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 Quoine NEO with a short position of BitTrex Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Quoine NEO
and BitTrex Ethereum
Quoine NEO USD vs BitTrex Ethereum Classic USD
Assuming 30 trading days horizon, Quoine NEO USD is expected to generate 1.03 times more return on investment than BitTrex Ethereum. However, Quoine NEO is 1.03 times more volatile than BitTrex Ethereum Classic USD. It trades about -0.24 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.28 per unit of risk. If you would invest 12,650 in Quoine NEO USD on February 17, 2018 and sell it today you would lose (5,933) from holding Quoine NEO USD or give up 46.9% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Quoine NEO USD and BitTrex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum Cla and Quoine NEO 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 Quoine NEO USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum Cla has no effect on the direction of Quoine NEO i.e. Quoine NEO and BitTrex Ethereum go up and down completely randomly.
Over the last 30 days Quoine NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.