Correlation Analysis Between Bitfinex Recovery and Poloniex Stellar

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

Bitfinex Recovery Right Tokens  vs.  Poloniex Stellar USD

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.0361 
0.00529  12.78%
Market Cap: 238
  

Poloniex

Stellar on Poloniex in USD

 0.24 
0.016  7.00%
Market Cap: 928.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery is expected to generate 1.82 times less return on investment than Poloniex Stellar. In addition to that, Bitfinex Recovery is 1.41 times more volatile than Poloniex Stellar USD. It trades about 0.09 of its total potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.23 per unit of volatility. If you would invest  19.48  in Poloniex Stellar USD on September 17, 2018 and sell it today you would earn a total of  5.04  from holding Poloniex Stellar USD or generate 25.87% return on investment over 30 days.

Pair Corralation between Bitfinex Recovery and Poloniex Stellar

0.43
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Recovery Right  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Poloniex Stellar USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1121.28

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