Pair Correlation Between Poloniex Stellar and Yobit HempCoin

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

Poloniex

Stellar on Poloniex in USD
 0.48 
(0.14)  22.86%
Market Cap: 2 M

Yobit

HempCoin on Yobit in USD
 0.00013 
(0.000078)  37.5%
Market Cap: 532
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar is expected to generate 5.06 times less return on investment than Yobit HempCoin. But when comparing it to its historical volatility, Poloniex Stellar USD is 5.55 times less risky than Yobit HempCoin. It trades about 0.19 of its potential returns per unit of risk. Yobit HempCoin USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  0.02  in Yobit HempCoin USD on December 17, 2017 and sell it today you would earn a total of  0.00  from holding Yobit HempCoin USD or generate 9.47% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Stellar and Yobit HempCoin
0.72

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Stellar USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit HempCoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HempCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.