Pair Correlation Between Yobit B3 and Poloniex Stellar

This module allows you to analyze existing cross correlation between Yobit B3 Coin USD and Poloniex Stellar USD. You can compare the effects of market volatilities on Yobit B3 and Poloniex Stellar 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 Yobit B3 with a short position of Poloniex Stellar. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit B3 and Poloniex Stellar.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Yobit B3 Coin USD  vs   Poloniex Stellar USD

Yobit

B3 Coin on Yobit in USD
 0.00048 
0.00001  2.13%
Market Cap: 45.0

Poloniex

Stellar on Poloniex in USD
 0.27 
0.0071  2.72%
Market Cap: 18.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 is expected to generate 1.68 times less return on investment than Poloniex Stellar. In addition to that, Yobit B3 is 3.17 times more volatile than Poloniex Stellar USD. It trades about 0.14 of its total potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.74 per unit of volatility. If you would invest  3.5  in Poloniex Stellar USD on November 17, 2017 and sell it today you would earn a total of  22.8  from holding Poloniex Stellar USD or generate 652.29% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and Poloniex Stellar
0.03

Parameters

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

Diversification

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit B3 Coin USD and Poloniex Stellar USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Stellar USD and Yobit B3 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 Yobit B3 Coin USD are associated (or correlated) with Poloniex Stellar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Stellar USD has no effect on the direction of Yobit B3 i.e. Yobit B3 and Poloniex Stellar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit B3 Coin

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit B3 Coin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

  
48 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 48 (%) of all global equities and portfolios over the last 30 days.