Pair Correlation Between Poloniex Stellar and HitBTC DigitalCash

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

Poloniex Stellar USD  vs.  HitBTC DigitalCash USD

Poloniex

Stellar on Poloniex in USD
 0.38 
0.0212  5.22%
Market Cap: 1.2 M
  

HitBTC

DigitalCash on HitBTC in USD
 514.77 
18.83  3.53%
Market Cap: 1.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 1.25 times more return on investment than HitBTC DigitalCash. However, Poloniex Stellar is 1.25 times more volatile than HitBTC DigitalCash USD. It trades about 0.07 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.01 per unit of risk. If you would invest  33.45  in Poloniex Stellar USD on March 25, 2018 and sell it today you would earn a total of  5.01  from holding Poloniex Stellar USD or generate 14.98% return on investment over 30 days.

Pair Corralation between Poloniex Stellar and HitBTC DigitalCash

0.74
Time Period2 Months [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 HitBTC DigitalCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigitalCash 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 HitBTC DigitalCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigitalCash USD has no effect on the direction of Poloniex Stellar i.e. Poloniex Stellar and HitBTC DigitalCash go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Stellar USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
HitBTC DigitalCash USD  
0 

Risk-Adjusted Performance

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

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