Pair Correlation 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
 0.52 
0.0179  3.56%
Market Cap: 2 M

BitTrex

Ethereum Classic on BitTrex in USD
 33.5 
0.97  2.98%
Market Cap: 88.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 1.73 times more return on investment than BitTrex Ethereum. However, Poloniex Stellar is 1.73 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.24 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.08 per unit of risk. If you would invest  21  in Poloniex Stellar USD on December 21, 2017 and sell it today you would earn a total of  29.25  from holding Poloniex Stellar USD or generate 139.29% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Stellar and BitTrex Ethereum
0.7

Parameters

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

Diversification

Poor 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

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar

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.

BitTrex Ethereum Classic USD

Pair trading matchups for BitTrex Ethereum