Pair Correlation Between Yobit EmberCoin and Quoine NEO

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

Yobit

EmberCoin on Yobit in USD
 0.0002099 
0.0000109  5.48%
Market Cap: 2.5 K

Quoine

NEO on Quoine in USD
 153.5 
11.8  8.33%
Market Cap: 2.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EmberCoin USD is expected to generate 2.33 times more return on investment than Quoine NEO. However, Yobit EmberCoin is 2.33 times more volatile than Quoine NEO USD. It trades about 0.24 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  0.01  in Yobit EmberCoin USD on December 20, 2017 and sell it today you would earn a total of  0.01  from holding Yobit EmberCoin USD or generate 171.43% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit EmberCoin and Quoine NEO
-0.4

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit EmberCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EmberCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit EmberCoin USD

Pair trading matchups for Yobit EmberCoin

Quoine NEO USD

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine NEO USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

Quoine NEO USD

Pair trading matchups for Quoine NEO