Pair Correlation Between Yobit BiosCrypto and Poloniex Stellar

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

Yobit

BiosCrypto on Yobit in USD
 0.0032 
0.002222  227.2%
Market Cap: 0

Poloniex

Stellar on Poloniex in USD
 0.27 
0.0238  9.71%
Market Cap: 5.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BiosCrypto USD is expected to generate 21.35 times more return on investment than Poloniex Stellar. However, Yobit BiosCrypto is 21.35 times more volatile than Poloniex Stellar USD. It trades about 0.25 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.75 per unit of risk. If you would invest  0.00  in Yobit BiosCrypto USD on November 17, 2017 and sell it today you would earn a total of  0.32  from holding Yobit BiosCrypto USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BiosCrypto and Poloniex Stellar
-0.28

Parameters

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

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit BiosCrypto 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 BiosCrypto 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 BiosCrypto 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 BiosCrypto i.e. Yobit BiosCrypto and Poloniex Stellar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BiosCrypto USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BiosCrypto USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

  
49 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 49 (%) of all global equities and portfolios over the last 30 days.