Correlation Analysis Between Lykke Ethereum and Poloniex Ethereum

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

Lykke Ethereum USD  vs.  Poloniex Ethereum USD

Lykke

Ethereum on Lykke in USD
 480.00 
7.91  1.68%
Market Cap: 67 K
  

Poloniex

Ethereum on Poloniex in USD
 470.77 
36.64  8.44%
Market Cap: 733.4 M
 9.23 
1.92% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Lykke Ethereum USD is expected to generate 0.73 times more return on investment than Poloniex Ethereum. However, Lykke Ethereum USD is 1.37 times less risky than Poloniex Ethereum. It trades about -0.12 of its potential returns per unit of risk. Poloniex Ethereum USD is currently generating about -0.09 per unit of risk. If you would invest  53,560  in Lykke Ethereum USD on June 17, 2018 and sell it today you would lose (5,560)  from holding Lykke Ethereum USD or give up 10.38% of portfolio value over 30 days.

Pair Corralation between Lykke Ethereum and Poloniex Ethereum

0.84
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy95.45%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Lykke Ethereum USD  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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