Correlation Analysis Between Bitstamp Ethereum and Poloniex Monero

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

Bitstamp Ethereum USD  vs.  Poloniex Monero USD

Bitstamp

Ethereum on Bitstamp in USD
 540.07 
17.88  3.42%
Market Cap: 11.2 B
  

Poloniex

Monero on Poloniex in USD
 122.30 
0.51  0.42%
Market Cap: 33.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to generate 0.97 times more return on investment than Poloniex Monero. However, Bitstamp Ethereum USD is 1.03 times less risky than Poloniex Monero. It trades about -0.12 of its potential returns per unit of risk. Poloniex Monero USD is currently generating about -0.22 per unit of risk. If you would invest  65,202  in Bitstamp Ethereum USD on May 21, 2018 and sell it today you would lose (13,120)  from holding Bitstamp Ethereum USD or give up 20.12% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and Poloniex Monero

0.96
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 Bitstamp Ethereum USD and Poloniex Monero USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Monero USD and Bitstamp 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 Bitstamp Ethereum USD are associated (or correlated) with Poloniex Monero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Monero USD has no effect on the direction of Bitstamp Ethereum i.e. Bitstamp Ethereum and Poloniex Monero go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Poloniex Monero USD  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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