This module allows you to analyze existing cross correlation between Yobit Chip USD and Quoine NEO USD. You can compare the effects of market volatilities on Yobit Chip 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 Yobit Chip with a short position of Quoine NEO. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Chip and Quoine NEO.
Assuming 30 trading days horizon, Yobit Chip USD is expected to generate 3.28 times more return on investment than Quoine NEO. However, Yobit Chip is 3.28 times more volatile than Quoine NEO USD. It trades about 0.0 of its potential returns per unit of risk. Quoine NEO USD is currently generating about -0.11 per unit of risk. If you would invest 1.59 in Yobit Chip USD on March 21, 2018 and sell it today you would lose (1.27) from holding Yobit Chip USD or give up 80.14% of portfolio value over 30 days.
Pair Corralation between Yobit Chip and Quoine NEO
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Chip 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 Yobit Chip 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 Yobit Chip 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 Yobit Chip i.e. Yobit Chip and Quoine NEO go up and down completely randomly.
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.