Pair Correlation Between Poloniex Ethereum and Coinbase Ethereum

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

Poloniex

Ethereum on Poloniex in USD
 452 
10.69  2.42%
Market Cap: 905.3 M
(14.51)

Coinbase

Ethereum on Coinbase in USD
 466.51 
19.61  4.39%
Market Cap: 24.9 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Ethereum is expected to generate 1.07 times less return on investment than Coinbase Ethereum. In addition to that, Poloniex Ethereum is 1.07 times more volatile than Coinbase Ethereum USD. It trades about 0.28 of its total potential returns per unit of risk. Coinbase Ethereum USD is currently generating about 0.32 per unit of volatility. If you would invest  30,760  in Coinbase Ethereum USD on November 11, 2017 and sell it today you would earn a total of  15,898  from holding Coinbase Ethereum USD or generate 51.68% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Ethereum and Coinbase Ethereum
0.77

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Ethereum USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Ethereum USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

Coinbase Ethereum USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Ethereum USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.