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
Poloniex Stellar USD vs Kraken Monero USD
Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 2.08 times more return on investment than Kraken Monero. However, Poloniex Stellar is 2.08 times more volatile than Kraken Monero USD. It trades about 0.25 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 20.48 in Poloniex Stellar USD on December 23, 2017 and sell it today you would earn a total of 29.86 from holding Poloniex Stellar USD or generate 145.8% return on investment over 30 days.
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Very weak 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.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.
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.