Pair Correlation Between Poloniex Stellar and Bitfinex Recovery

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

Poloniex

Stellar on Poloniex in USD
 0.52 
0.037  7.64%
Market Cap: 2 M

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.14 
0.0034  2.58%
Market Cap: 662.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 1.83 times more return on investment than Bitfinex Recovery. However, Poloniex Stellar is 1.83 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.2 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.16 per unit of risk. If you would invest  26.06  in Poloniex Stellar USD on December 20, 2017 and sell it today you would earn a total of  22.34  from holding Poloniex Stellar USD or generate 85.73% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Stellar and Bitfinex Recovery
0.42

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Stellar USD and Bitfinex Recovery Right Tokens in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Recovery Right and Poloniex Stellar 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 Poloniex Stellar USD are associated (or correlated) with Bitfinex Recovery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Recovery Right has no effect on the direction of Poloniex Stellar i.e. Poloniex Stellar and Bitfinex Recovery go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Stellar USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar

Bitfinex Recovery Right

  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Bitfinex Recovery Right Tokens USD

Pair trading matchups for Bitfinex Recovery