Correlation Analysis Between Poloniex Stellar and Coinbase Bitcoin

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

Poloniex Stellar USD  vs.  Coinbase Bitcoin USD

Poloniex

Stellar on Poloniex in USD

 0.25 
0.0019  0.76%
Market Cap: 68.7 K
  

Coinbase

Bitcoin on Coinbase in USD

 6,398 
4.17  0.07%
Market Cap: 43.4 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 2.55 times more return on investment than Coinbase Bitcoin. However, Poloniex Stellar is 2.55 times more volatile than Coinbase Bitcoin USD. It trades about 0.0 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.01 per unit of risk. If you would invest  25.32  in Poloniex Stellar USD on September 23, 2018 and sell it today you would lose (0.33)  from holding Poloniex Stellar USD or give up 1.3% of portfolio value over 30 days.

Pair Corralation between Poloniex Stellar and Coinbase Bitcoin

0.77
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Poor diversification

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

Risk-Adjusted Performance

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

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