Correlation Analysis Between CCEX Dogecoin and Poloniex Monero

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

CCEX Dogecoin USD  vs.  Poloniex Monero USD

CCEX

Dogecoin on CCEX in USD

 0.005721 
0.000029  0.50%
Market Cap: 724
  

Poloniex

Monero on Poloniex in USD

 113.65 
0.06  0.05%
Market Cap: 21.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Dogecoin USD is expected to generate 2.39 times more return on investment than Poloniex Monero. However, CCEX Dogecoin is 2.39 times more volatile than Poloniex Monero USD. It trades about 0.33 of its potential returns per unit of risk. Poloniex Monero USD is currently generating about 0.1 per unit of risk. If you would invest  0.24  in CCEX Dogecoin USD on August 26, 2018 and sell it today you would earn a total of  0.33  from holding CCEX Dogecoin USD or generate 140.38% return on investment over 30 days.

Pair Corralation between CCEX Dogecoin and Poloniex Monero

0.33
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
CCEX Dogecoin USD  
21 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Dogecoin USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.
Poloniex Monero USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Monero USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

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