Pair Correlation Between HitBTC Ethereum and Poloniex Ethereum

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

HitBTC

Ethereum on HitBTC in USD
 1,002 
(6.9)  0.68%
Market Cap: 11.5 B
(1.14)

Poloniex

Ethereum on Poloniex in USD
 1,003 
(4.18)  0.41%
Market Cap: 14.1 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Ethereum USD is expected to generate 1.27 times more return on investment than Poloniex Ethereum. However, HitBTC Ethereum is 1.27 times more volatile than Poloniex Ethereum USD. It trades about 0.17 of its potential returns per unit of risk. Poloniex Ethereum USD is currently generating about 0.19 per unit of risk. If you would invest  72,022  in HitBTC Ethereum USD on December 25, 2017 and sell it today you would earn a total of  28,160  from holding HitBTC Ethereum USD or generate 39.1% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Ethereum and Poloniex Ethereum
0.88

Parameters

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

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Ethereum USD and Poloniex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Ethereum USD and HitBTC 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 HitBTC Ethereum USD are associated (or correlated) with Poloniex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Ethereum USD has no effect on the direction of HitBTC Ethereum i.e. HitBTC Ethereum and Poloniex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Ethereum USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Ethereum USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

HitBTC Ethereum USD

Pair trading matchups for HitBTC Ethereum

Poloniex Ethereum USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Ethereum USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Poloniex Ethereum USD

Pair trading matchups for Poloniex Ethereum