Pair Correlation Between Yobit Golem and Quoine NEO

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.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Yobit Golem Network Token USD  vs   Quoine NEO USD

Yobit

Golem Network Token on Yobit in USD
 0.96 
0.13  15.66%
Market Cap: 395

Quoine

NEO on Quoine in USD
 141.7 
(0.1)  0.0705%
Market Cap: 2.9 M
 Performance (%) 
      Timeline 

Pair Volatility

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.

Correlation Coefficient

Pair Corralation between Yobit Golem and Quoine NEO
-0.06

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Golem Network

  
7 

Risk-Adjusted Performance

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.

Yobit Golem Network Token USD

Pair trading matchups for Yobit Golem

Quoine NEO USD

  
5 

Risk-Adjusted Performance

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.

Quoine NEO USD

Pair trading matchups for Quoine NEO