Correlation Analysis Between Poloniex Stellar and BitTrex Ethereum

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

Poloniex Stellar USD  vs.  BitTrex Ethereum Classic USD

Poloniex

Stellar on Poloniex in USD
 0.22 
0.0015  0.68%
Market Cap: 389.3 K
  

BitTrex

Ethereum Classic on BitTrex in USD
 15.97 
0.04  0.25%
Market Cap: 21.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to under-perform the BitTrex Ethereum. In addition to that, Poloniex Stellar is 1.01 times more volatile than BitTrex Ethereum Classic USD. It trades about -0.03 of its total potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.09 per unit of volatility. If you would invest  1,452  in BitTrex Ethereum Classic USD on June 15, 2018 and sell it today you would earn a total of  145.00  from holding BitTrex Ethereum Classic USD or generate 9.99% return on investment over 30 days.

Pair Corralation between Poloniex Stellar and BitTrex Ethereum

0.55
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
BitTrex Ethereum Cla  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

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