This module allows you to analyze existing cross correlation between Yobit Waves USD and Quoine NEO USD. You can compare the effects of market volatilities on Yobit Waves 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 Waves with a short position of Quoine NEO. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Waves and Quoine NEO.
Assuming 30 trading days horizon, Yobit Waves USD is expected to generate 0.7 times more return on investment than Quoine NEO. However, Yobit Waves USD is 1.42 times less risky than Quoine NEO. It trades about -0.1 of its potential returns per unit of risk. Quoine NEO USD is currently generating about -0.08 per unit of risk. If you would invest 770.00 in Yobit Waves USD on March 22, 2018 and sell it today you would lose (250.00) from holding Yobit Waves USD or give up 32.47% of portfolio value over 30 days.
Pair Corralation between Yobit Waves and Quoine NEO
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Waves 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 Waves 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 Waves 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 Waves i.e. Yobit Waves and Quoine NEO go up and down completely randomly.
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