Pair Correlation Between Poloniex Stellar and Yobit Golem

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

Poloniex

Stellar on Poloniex in USD
 0.36 
(0.0259)  6.66%
Market Cap: 2 M

Yobit

Golem Network Token on Yobit in USD
 0.68 
(0.03)  4.23%
Market Cap: 612
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar USD is expected to generate 1.35 times more return on investment than Yobit Golem. However, Poloniex Stellar is 1.35 times more volatile than Yobit Golem Network Token USD. It trades about 0.16 of its potential returns per unit of risk. Yobit Golem Network Token USD is currently generating about 0.07 per unit of risk. If you would invest  25.73  in Poloniex Stellar USD on December 18, 2017 and sell it today you would earn a total of  13.17  from holding Poloniex Stellar USD or generate 51.19% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Stellar and Yobit Golem
0.84

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Stellar USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar

Yobit Golem Network

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

Yobit Golem Network Token USD

Pair trading matchups for Yobit Golem