Correlation Analysis Between Poloniex Stellar and Yobit CannabisCoin

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

Poloniex Stellar USD  vs.  Yobit CannabisCoin USD

Poloniex

Stellar on Poloniex in USD
 0.23 
0.005  2.22%
Market Cap: 603.9 K
  

Yobit

CannabisCoin on Yobit in USD
 0.03388 
0.00938  38.29%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to under-perform the Yobit CannabisCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Poloniex Stellar USD is 5.78 times less risky than Yobit CannabisCoin. The crypto trades about -0.2 of its potential returns per unit of risk. The Yobit CannabisCoin USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  4.69  in Yobit CannabisCoin USD on May 19, 2018 and sell it today you would lose (1.30)  from holding Yobit CannabisCoin USD or give up 27.76% of portfolio value over 30 days.

Pair Corralation between Poloniex Stellar and Yobit CannabisCoin

-0.03
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Stellar USD  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Stellar USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit CannabisCoin USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CannabisCoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1152.26

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.