Correlation Analysis Between OKCoin Bitcoin and P2PB2B Stellar

This module allows you to analyze existing cross correlation between OKCoin Bitcoin USD and P2PB2B Stellar USD. You can compare the effects of market volatilities on OKCoin Bitcoin and P2PB2B 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 OKCoin Bitcoin with a short position of P2PB2B Stellar. See also your portfolio center. Please also check ongoing floating volatility patterns of OKCoin Bitcoin and P2PB2B Stellar.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

OKCoin Bitcoin USD  
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Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, OKCoin Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
P2PB2B Stellar USD  
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Risk-Adjusted Performance

Over the last 30 days P2PB2B Stellar USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, P2PB2B Stellar sustained solid returns over the last few months and may actually be approaching a breakup point.

OKCoin Bitcoin and P2PB2B Stellar Volatility Contrast

OKCoin Bitcoin USD  vs.  P2PB2B Stellar USD

OKCoin

Bitcoin on OKCoin in USD

 10,046 
184.28  1.87%
Market Cap: 29.2 B
  

P2PB2B

Stellar on P2PB2B in USD

 0.08 
0.00679  8.79%
Market Cap: 1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Bitcoin is expected to generate 34.93 times less return on investment than P2PB2B Stellar. But when comparing it to its historical volatility, OKCoin Bitcoin USD is 34.9 times less risky than P2PB2B Stellar. It trades about 0.71 of its potential returns per unit of risk. P2PB2B Stellar USD is currently generating about 0.71 of returns per unit of risk over similar time horizon. If you would invest  7.72  in P2PB2B Stellar USD on August 20, 2019 and sell it today you would earn a total of  0.43  from holding P2PB2B Stellar USD or generate 5.58% return on investment over 30 days.

Pair Corralation between OKCoin Bitcoin and P2PB2B Stellar

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and P2PB2B Stellar

OKCoin Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding OKCoin Bitcoin USD and P2PB2B Stellar USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Stellar USD and OKCoin Bitcoin 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 OKCoin Bitcoin USD are associated (or correlated) with P2PB2B Stellar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Stellar USD has no effect on the direction of OKCoin Bitcoin i.e. OKCoin Bitcoin and P2PB2B Stellar go up and down completely randomly.
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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