Pair Correlation Between HitBTC Autumncoin and Poloniex Stellar

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

HitBTC

Autumncoin on HitBTC in USD
 0.0248 
0.0057  29.84%
Market Cap: 56.6 K

Poloniex

Stellar on Poloniex in USD
 0.51 
0.0238  4.92%
Market Cap: 2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin USD is expected to generate 1.66 times more return on investment than Poloniex Stellar. However, HitBTC Autumncoin is 1.66 times more volatile than Poloniex Stellar USD. It trades about 0.15 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.21 per unit of risk. If you would invest  1.68  in HitBTC Autumncoin USD on December 19, 2017 and sell it today you would earn a total of  0.8  from holding HitBTC Autumncoin USD or generate 47.62% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and Poloniex Stellar
0.25

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
10 

Risk-Adjusted Performance

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

HitBTC Autumncoin USD

Pair trading matchups for HitBTC Autumncoin

Poloniex Stellar USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar