Correlation Analysis 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.
Horizon     30 Days    Login   to change
Symbolsvs

Cexio Ethereum USD  vs.  Poloniex Stellar USD

Cexio

Ethereum on Cexio in USD

 204.97 
1.34  0.66%
Market Cap: 1.6 M
  

Poloniex

Stellar on Poloniex in USD

 0.25 
0.0049  2.04%
Market Cap: 928.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 10.8 times less return on investment than Poloniex Stellar. In addition to that, Cexio Ethereum is 1.03 times more volatile than Poloniex Stellar USD. It trades about 0.01 of its total potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.14 per unit of volatility. If you would invest  21.32  in Poloniex Stellar USD on September 19, 2018 and sell it today you would earn a total of  3.23  from holding Poloniex Stellar USD or generate 15.15% return on investment over 30 days.

Pair Corralation between Cexio Ethereum and Poloniex Stellar

0.59
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak 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  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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