Pair Correlation Between LiveCoin BlueCoin and Poloniex Stellar

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01429 
0.0032  28.85%
Market Cap: 67.0

Poloniex

Stellar on Poloniex in USD
 0.15 
0.00138  0.95%
Market Cap: 5.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 3.4 times more return on investment than Poloniex Stellar. However, LiveCoin BlueCoin is 3.4 times more volatile than Poloniex Stellar USD. It trades about 0.26 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.55 per unit of risk. If you would invest  0.31  in LiveCoin BlueCoin USD on November 14, 2017 and sell it today you would earn a total of  0.8  from holding LiveCoin BlueCoin USD or generate 257.74% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Poloniex Stellar
0.86

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.77%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

  
36 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 36 (%) of all global equities and portfolios over the last 30 days.