Pair Correlation Between Poloniex Stellar and Kraken Monero

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

Poloniex Stellar USD  vs.  Kraken Monero USD

Poloniex

Stellar on Poloniex in USD
 0.37 
0.0358  8.82%
Market Cap: 1.2 M
  

Kraken

Monero on Kraken in USD
 295.00 
12.49  4.42%
Market Cap: 265.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 1.16 times more return on investment than Kraken Monero. However, Poloniex Stellar is 1.16 times more volatile than Kraken Monero USD. It trades about 0.05 of its potential returns per unit of risk. Kraken Monero USD is currently generating about 0.05 per unit of risk. If you would invest  34.30  in Poloniex Stellar USD on March 26, 2018 and sell it today you would earn a total of  2.70  from holding Poloniex Stellar USD or generate 7.87% return on investment over 30 days.

Pair Corralation between Poloniex Stellar and Kraken Monero

0.87
Time Period2 Months [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 Kraken Monero USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Monero 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 Kraken Monero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Monero USD has no effect on the direction of Poloniex Stellar i.e. Poloniex Stellar and Kraken Monero go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Stellar USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Kraken Monero USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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Fama & French Classification
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ExchangeNASDAQ
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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.