Pair Correlation Between Poloniex Bitcoin and Exmo Bitcoin

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

Poloniex

Bitcoin on Poloniex in USD
 15,750 
(593.69)  3.63%
Market Cap: 259.1 B
(718.69)

Exmo

Bitcoin on Exmo in USD
 16,469 
(96)  0.58%
Market Cap: 267.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin is expected to generate 1.03 times less return on investment than Exmo Bitcoin. But when comparing it to its historical volatility, Poloniex Bitcoin USD is 1.03 times less risky than Exmo Bitcoin. It trades about 0.47 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.47 of returns per unit of risk over similar time horizon. If you would invest  664,051  in Exmo Bitcoin USD on November 13, 2017 and sell it today you would earn a total of  957,049  from holding Exmo Bitcoin USD or generate 144.12% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Bitcoin and Exmo Bitcoin
0.99

Parameters

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

Diversification

No risk reduction

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

Exmo Bitcoin USD

  
31 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 31 (%) of all global equities and portfolios over the last 30 days.

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin