Correlation Analysis Between Yobit DebitCoin and Quoine NEO

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

Yobit DebitCoin USD  vs.  Quoine NEO USD

Yobit

DebitCoin on Yobit in USD
 0.0066 
0.003483  111.74%
Market Cap: 2.0
  

Quoine

NEO on Quoine in USD
 32.23 
4.47  12.18%
Market Cap: 54.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to generate 6.38 times more return on investment than Quoine NEO. However, Yobit DebitCoin is 6.38 times more volatile than Quoine NEO USD. It trades about 0.26 of its potential returns per unit of risk. Quoine NEO USD is currently generating about -0.01 per unit of risk. If you would invest  0.23  in Yobit DebitCoin USD on June 17, 2018 and sell it today you would earn a total of  0.43  from holding Yobit DebitCoin USD or generate 185.47% return on investment over 30 days.

Pair Corralation between Yobit DebitCoin and Quoine NEO

-0.07
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy73.33%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit DebitCoin USD  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.
Quoine NEO USD  
0 

Risk-Adjusted Performance

Over the last 30 days Quoine NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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