Pair Correlation Between Poloniex Stellar and HitBTC ZCash

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

Poloniex

Stellar on Poloniex in USD
 0.53 
0.0275  5.51%
Market Cap: 2 M

HitBTC

ZCash on HitBTC in USD
 517.28 
(12.49)  2.36%
Market Cap: 1.4 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 2.15 times more return on investment than HitBTC ZCash. However, Poloniex Stellar is 2.15 times more volatile than HitBTC ZCash USD. It trades about 0.21 of its potential returns per unit of risk. HitBTC ZCash USD is currently generating about -0.04 per unit of risk. If you would invest  24.68  in Poloniex Stellar USD on December 19, 2017 and sell it today you would earn a total of  25.22  from holding Poloniex Stellar USD or generate 102.19% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Stellar and HitBTC ZCash
0.6

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Stellar USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar

HitBTC ZCash USD

  
0 

Risk-Adjusted Performance

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

HitBTC ZCash USD

Pair trading matchups for HitBTC ZCash