Correlation Analysis Between Kraken Monero and Poloniex Stellar

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

Kraken Monero USD  vs.  Poloniex Stellar USD

Kraken

Monero on Kraken in USD
 110.16 
10.85  8.97%
Market Cap: 34 M
  

Poloniex

Stellar on Poloniex in USD
 0.21 
0.0171  7.62%
Market Cap: 117.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Poloniex Stellar. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 1.17 times less risky than Poloniex Stellar. The crypto trades about -0.32 of its potential returns per unit of risk. The Poloniex Stellar USD is currently generating about -0.2 of returns per unit of risk over similar time horizon. If you would invest  29.09  in Poloniex Stellar USD on May 23, 2018 and sell it today you would lose (8.37)  from holding Poloniex Stellar USD or give up 28.77% of portfolio value over 30 days.

Pair Corralation between Kraken Monero and Poloniex Stellar

0.98
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Monero USD  
0 

Risk-Adjusted Performance

Over the last 30 days Kraken Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Poloniex Stellar USD  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Stellar USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.