Correlation Analysis Between Coinbase Bitcoin and Poloniex Stellar

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

Coinbase Bitcoin USD  vs.  Poloniex Stellar USD


Bitcoin on Coinbase in USD

55.67  0.86%
Market Cap: 51.6 B


Stellar on Poloniex in USD

0.0083  3.27%
Market Cap: 928.5 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 81.92 times less return on investment than Poloniex Stellar. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 2.38 times less risky than Poloniex Stellar. It trades about 0.0 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  20.78  in Poloniex Stellar USD on September 18, 2018 and sell it today you would earn a total of  3.56  from holding Poloniex Stellar USD or generate 17.13% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and Poloniex Stellar

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD 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 Coinbase 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 Coinbase Bitcoin 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 Coinbase Bitcoin i.e. Coinbase Bitcoin and Poloniex Stellar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
Coinbase Bitcoin USD  

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Poloniex Stellar USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

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