Pair Correlation Between Yobit Decred and Poloniex Stellar

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

Yobit

Decred on Yobit in USD
 91 
1  1.11%
Market Cap: 427.8 K

Poloniex

Stellar on Poloniex in USD
 0.43 
0.045  11.57%
Market Cap: 2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Decred is expected to generate 5.02 times less return on investment than Poloniex Stellar. But when comparing it to its historical volatility, Yobit Decred USD is 2.04 times less risky than Poloniex Stellar. It trades about 0.07 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  26.81  in Poloniex Stellar USD on December 17, 2017 and sell it today you would earn a total of  18.94  from holding Poloniex Stellar USD or generate 70.65% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Decred and Poloniex Stellar
0.78

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Decred USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Decred USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.