Pair Correlation Between Poloniex Stellar and Yobit SpaceCoin

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

Poloniex

Stellar on Poloniex in USD
 0.45 
(0.0609)  11.92%
Market Cap: 3.3 M

Yobit

SpaceCoin on Yobit in USD
 0.02389 
0.00919  62.52%
Market Cap: 558
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Stellar is expected to generate 11.11 times less return on investment than Yobit SpaceCoin. But when comparing it to its historical volatility, Poloniex Stellar USD is 10.36 times less risky than Yobit SpaceCoin. It trades about 0.21 of its potential returns per unit of risk. Yobit SpaceCoin USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  1.5  in Yobit SpaceCoin USD on December 22, 2017 and sell it today you would earn a total of  0.89  from holding Yobit SpaceCoin USD or generate 59.27% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Stellar and Yobit SpaceCoin
0.31

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Stellar USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar

Yobit SpaceCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SpaceCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit SpaceCoin USD

Pair trading matchups for Yobit SpaceCoin