Pair Correlation Between Yobit HempCoin and Quoine NEO

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

Yobit

HempCoin on Yobit in USD
 0.00015 
(0.00001)  6.25%
Market Cap: 1.7 K

Quoine

NEO on Quoine in USD
 140.4 
1.3  0.93%
Market Cap: 2.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit HempCoin USD is expected to generate 4.99 times more return on investment than Quoine NEO. However, Yobit HempCoin is 4.99 times more volatile than Quoine NEO USD. It trades about 0.19 of its potential returns per unit of risk. Quoine NEO USD is currently generating about 0.22 per unit of risk. If you would invest  0.01  in Yobit HempCoin USD on December 22, 2017 and sell it today you would earn a total of  0.01  from holding Yobit HempCoin USD or generate 78.57% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit HempCoin and Quoine NEO
-0.36

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit HempCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HempCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit HempCoin USD

Pair trading matchups for Yobit HempCoin

Quoine NEO USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Quoine NEO USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Quoine NEO USD

Pair trading matchups for Quoine NEO