This module allows you to analyze existing cross correlation between HitBTC ZCash USD and Poloniex Stellar USD. You can compare the effects of market volatilities on HitBTC ZCash 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 HitBTC ZCash with a short position of Poloniex Stellar. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ZCash
and Poloniex Stellar
HitBTC ZCash USD vs Poloniex Stellar USD
Assuming 30 trading days horizon, HitBTC ZCash is expected to generate 10.32 times less return on investment than Poloniex Stellar. But when comparing it to its historical volatility, HitBTC ZCash USD is 2.11 times less risky than Poloniex Stellar. It trades about 0.04 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 24.46 in Poloniex Stellar USD on December 22, 2017 and sell it today you would earn a total of 26.63 from holding Poloniex Stellar USD or generate 108.87% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ZCash 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 HitBTC ZCash 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 ZCash 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 HitBTC ZCash i.e. HitBTC ZCash and Poloniex Stellar go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ZCash USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.