Pair Correlation Between HitBTC NEM and Poloniex Stellar |
This module allows you to analyze existing cross correlation between HitBTC NEM USD and Poloniex Stellar USD. You can compare the effects of market volatilities on HitBTC NEM 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 NEM with a short position of Poloniex Stellar. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC NEM and Poloniex Stellar.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
HitBTC NEM USD vs. Poloniex Stellar USD
HitBTCNEM on HitBTC in USD 0.37
| PoloniexStellar on Poloniex in USD 0.33
|
Pair Volatility
Assuming 30 trading days horizon, HitBTC NEM is expected to generate 2.65 times less return on investment than Poloniex Stellar. But when comparing it to its historical volatility, HitBTC NEM USD is 1.06 times less risky than Poloniex Stellar. It trades about 0.01 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 34.30 in Poloniex Stellar USD on March 26, 2018 and sell it today you would lose (0.36) from holding Poloniex Stellar USD or give up 1.05% of portfolio value over 30 days.
Pair Corralation between HitBTC NEM and Poloniex Stellar
0.82
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC NEM 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 NEM 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 NEM 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 NEM i.e. HitBTC NEM and Poloniex Stellar go up and down completely randomly.
Comparative Volatility
| HitBTC NEM USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days HitBTC NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC NEM USD
Pair trading matchups for HitBTC NEM
| Poloniex Stellar USD |
1 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Poloniex Stellar USD
Pair trading matchups for Poloniex Stellar
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