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
Poloniex Stellar USD vs HitBTC DigitalCash USD
Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 2.56 times more return on investment than HitBTC DigitalCash. However, Poloniex Stellar is 2.56 times more volatile than HitBTC DigitalCash USD. It trades about 0.22 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.17 per unit of risk. If you would invest 22.1 in Poloniex Stellar USD on December 24, 2017 and sell it today you would earn a total of 23.37 from holding Poloniex Stellar USD or generate 105.75% return on investment over 30 days.
|Time Period||1 Month [change]|
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.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.