Pair Correlation Between Poloniex Bitcoin and Abucoins Bitcoin

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

Poloniex

Bitcoin on Poloniex in USD
 15,559 
(784.97)  4.8%
Market Cap: 259.1 B
(977.71)

Abucoins

Bitcoin on Abucoins in USD
 16,537 
172.84  1.06%
Market Cap: 3.1 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin is expected to generate 1.07 times less return on investment than Abucoins Bitcoin. But when comparing it to its historical volatility, Poloniex Bitcoin USD is 1.02 times less risky than Abucoins Bitcoin. It trades about 0.47 of its potential returns per unit of risk. Abucoins Bitcoin USD is currently generating about 0.5 of returns per unit of risk over similar time horizon. If you would invest  652,720  in Abucoins Bitcoin USD on November 13, 2017 and sell it today you would earn a total of  1,000,954  from holding Abucoins Bitcoin USD or generate 153.35% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Bitcoin and Abucoins Bitcoin
0.98

Parameters

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

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Bitcoin USD

  
30 

Risk-Adjusted Performance

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

Poloniex Bitcoin USD

Pair trading matchups for Poloniex Bitcoin

Abucoins Bitcoin USD

  
32 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Abucoins Bitcoin USD are ranked lower than 32 (%) of all global equities and portfolios over the last 30 days.

Abucoins Bitcoin USD

Pair trading matchups for Abucoins Bitcoin