Pair Correlation Between Yobit Rimbit and Quoine NEO

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

Yobit Rimbit USD  vs.  Quoine NEO USD

Yobit

Rimbit on Yobit in USD
 0.001057 
0.000043  3.91%
Market Cap: 0
  

Quoine

NEO on Quoine in USD
 73.18 
0.04  0.0546%
Market Cap: 1.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rimbit USD is expected to generate 5.58 times more return on investment than Quoine NEO. However, Yobit Rimbit is 5.58 times more volatile than Quoine NEO USD. It trades about 0.09 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  0.68  in Yobit Rimbit USD on March 21, 2018 and sell it today you would lose (0.57)  from holding Yobit Rimbit USD or give up 84.41% of portfolio value over 30 days.

Pair Corralation between Yobit Rimbit and Quoine NEO

0.55
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy98.36%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Rimbit USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 5 (%) 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.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1087.7

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.