This module allows you to analyze existing cross correlation between Yobit Golem Network Token USD and Quoine NEO USD. You can compare the effects of market volatilities on Yobit Golem 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 Golem with a short position of Quoine NEO. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Golem
and Quoine NEO
Yobit Golem Network Token USD vs Quoine NEO USD
Assuming 30 trading days horizon, Yobit Golem is expected to generate 1.12 times less return on investment than Quoine NEO. But when comparing it to its historical volatility, Yobit Golem Network Token USD is 1.66 times less risky than Quoine NEO. It trades about 0.12 of its potential returns per unit of risk. Quoine NEO USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 20,000 in Quoine NEO USD on December 19, 2017 and sell it today you would lose (4,700) from holding Quoine NEO USD or give up 23.5% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Golem Network Token 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 Golem 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 Golem Network Token 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 Golem i.e. Yobit Golem and Quoine NEO go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Quoine NEO USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.