Correlation Analysis Between CCEX AlpaCoin and Poloniex Stellar

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

CCEX AlpaCoin USD  vs.  Poloniex Stellar USD

CCEX

AlpaCoin on CCEX in USD
 0.01716 
0.010169  145.46%
Market Cap: 55.0
  

Poloniex

Stellar on Poloniex in USD
 0.23 
0.012  5.43%
Market Cap: 389.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX AlpaCoin USD is expected to generate 42.7 times more return on investment than Poloniex Stellar. However, CCEX AlpaCoin is 42.7 times more volatile than Poloniex Stellar USD. It trades about 0.29 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.02 per unit of risk. If you would invest  0.02  in CCEX AlpaCoin USD on June 16, 2018 and sell it today you would earn a total of  1.69  from holding CCEX AlpaCoin USD or generate 7700.0% return on investment over 30 days.

Pair Corralation between CCEX AlpaCoin and Poloniex Stellar

0.43
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy67.74%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
CCEX AlpaCoin USD  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX AlpaCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.
Poloniex Stellar USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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Alphabet
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ExchangeNASDAQ
$1182.43

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.