Pair Correlation Between Poloniex Stellar and HitBTC NEM

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

Poloniex

Stellar on Poloniex in USD
 0.53 
0.0243  4.84%
Market Cap: 2 M

HitBTC

NEM on HitBTC in USD
 1.18 
0.07  6.31%
Market Cap: 21.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 1.17 times more return on investment than HitBTC NEM. However, Poloniex Stellar is 1.17 times more volatile than HitBTC NEM USD. It trades about 0.24 of its potential returns per unit of risk. HitBTC NEM USD is currently generating about 0.11 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  30  from holding Poloniex Stellar USD or generate 142.86% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Stellar and HitBTC NEM
0.86

Parameters

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

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Stellar USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar

HitBTC NEM USD

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC NEM USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

HitBTC NEM USD

Pair trading matchups for HitBTC NEM