Pair Correlation Between Bitfinex Recovery and Poloniex Stellar

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

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.17 
(0.0008)  0.47%
Market Cap: 662.3 K

Poloniex

Stellar on Poloniex in USD
 0.46 
0.0185  4.16%
Market Cap: 3.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery is expected to generate 7.13 times less return on investment than Poloniex Stellar. But when comparing it to its historical volatility, Bitfinex Recovery Right Tokens USD is 1.37 times less risky than Poloniex Stellar. It trades about 0.04 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  24.46  in Poloniex Stellar USD on December 22, 2017 and sell it today you would earn a total of  19.52  from holding Poloniex Stellar USD or generate 79.8% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitfinex Recovery and Poloniex Stellar
0.63

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Recovery Right Tokens and Poloniex Stellar USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Stellar USD and Bitfinex Recovery 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 Bitfinex Recovery Right Tokens USD are associated (or correlated) with Poloniex Stellar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Stellar USD has no effect on the direction of Bitfinex Recovery i.e. Bitfinex Recovery and Poloniex Stellar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitfinex Recovery Right

  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Recovery Right Tokens USD

Pair trading matchups for Bitfinex Recovery

Poloniex Stellar USD

  
12 

Risk-Adjusted Performance

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

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar