Correlation Analysis Between BitTrex Ethereum and Poloniex Stellar

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

BitTrex Ethereum Classic USD  vs.  Poloniex Stellar USD

BitTrex

Ethereum Classic on BitTrex in USD

 9.53 
0.02  0.21%
Market Cap: 11.4 K
  

Poloniex

Stellar on Poloniex in USD

 0.25 
0.0018  0.71%
Market Cap: 928.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to under-perform the Poloniex Stellar. But the crypto apears to be less risky and, when comparing its historical volatility, BitTrex Ethereum Classic USD is 1.17 times less risky than Poloniex Stellar. The crypto trades about -0.14 of its potential returns per unit of risk. The Poloniex Stellar USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  24.78  in Poloniex Stellar USD on September 21, 2018 and sell it today you would earn a total of  0.47  from holding Poloniex Stellar USD or generate 1.9% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Poloniex Stellar

0.54
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy73.33%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Ethereum Cla  
0 

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Poloniex Stellar USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

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