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
Poloniex Stellar USD vs. Yobit SpaceCoin USD
Assuming 30 trading days horizon, Poloniex Stellar is expected to generate 6.64 times less return on investment than Yobit SpaceCoin. But when comparing it to its historical volatility, Poloniex Stellar USD is 2.63 times less risky than Yobit SpaceCoin. It trades about 0.01 of its potential returns per unit of risk. Yobit SpaceCoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 0.84 in Yobit SpaceCoin USD on March 21, 2018 and sell it today you would lose (0.39) from holding Yobit SpaceCoin USD or give up 46.63% of portfolio value over 30 days.
Pair Corralation between Poloniex Stellar and Yobit SpaceCoin
|Time Period||2 Months [change]|
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.
Over the last 30 days Poloniex Stellar USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SpaceCoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.