This module allows you to analyze existing cross correlation between Quoine NEO USD and Poloniex Stellar USD. You can compare the effects of market volatilities on Quoine NEO and Poloniex Stellar 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 Poloniex Stellar. See also your portfolio center
. Please also check ongoing floating volatility patterns of Quoine NEO
and Poloniex Stellar
Quoine NEO USD vs Poloniex Stellar USD
Assuming 30 trading days horizon, Quoine NEO is expected to generate 1.04 times less return on investment than Poloniex Stellar. In addition to that, Quoine NEO is 1.05 times more volatile than Poloniex Stellar USD. It trades about 0.23 of its total potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.25 per unit of volatility. If you would invest 20.48 in Poloniex Stellar USD on December 23, 2017 and sell it today you would earn a total of 29.86 from holding Poloniex Stellar USD or generate 145.8% return on investment over 30 days.
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Overlapping area represents the amount of risk that can be diversified away by holding Quoine NEO USD and Poloniex Stellar USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Stellar USD 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 Poloniex Stellar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Stellar USD has no effect on the direction of Quoine NEO i.e. Quoine NEO and Poloniex Stellar go up and down completely randomly.
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.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.