Pair Correlation Between Cexio Ethereum and Poloniex Stellar

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

Cexio Ethereum USD  vs.  Poloniex Stellar USD

Cexio

Ethereum on Cexio in USD
 636.00 
16.01  2.58%
Market Cap: 2 B
  

Poloniex

Stellar on Poloniex in USD
 0.37 
0.0144  4.05%
Market Cap: 1.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the Poloniex Stellar. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Ethereum USD is 1.42 times less risky than Poloniex Stellar. The crypto trades about -0.07 of its potential returns per unit of risk. The Poloniex Stellar USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  35.80  in Poloniex Stellar USD on March 27, 2018 and sell it today you would lose (0.24)  from holding Poloniex Stellar USD or give up 0.67% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and Poloniex Stellar

0.71
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy98.36%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Cexio Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum 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.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1067.45

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.