This module allows you to analyze existing cross correlation between Bitstamp Bitcoin USD and Poloniex Bitcoin USD. You can compare the effects of market volatilities on Bitstamp Bitcoin and Poloniex Bitcoin 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 Bitstamp Bitcoin with a short position of Poloniex Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Bitstamp Bitcoin
and Poloniex Bitcoin
Bitstamp Bitcoin USD vs. Poloniex Bitcoin USD
Assuming 30 trading days horizon, Bitstamp Bitcoin is expected to generate 1.1 times less return on investment than Poloniex Bitcoin. In addition to that, Bitstamp Bitcoin is 1.02 times more volatile than Poloniex Bitcoin USD. It trades about 0.1 of its total potential returns per unit of risk. Poloniex Bitcoin USD is currently generating about 0.12 per unit of volatility. If you would invest 670,899 in Poloniex Bitcoin USD on June 18, 2018 and sell it today you would earn a total of 71,631 from holding Poloniex Bitcoin USD or generate 10.68% return on investment over 30 days.
Pair Corralation between Bitstamp Bitcoin and Poloniex Bitcoin
|Time Period||1 Month [change]|
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp Bitcoin USD and Poloniex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Bitcoin USD and Bitstamp Bitcoin 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 Bitstamp Bitcoin USD are associated (or correlated) with Poloniex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Bitcoin USD has no effect on the direction of Bitstamp Bitcoin i.e. Bitstamp Bitcoin and Poloniex Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
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