Correlation Analysis Between Yobit Dogecoin and Poloniex Stellar

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

Yobit Dogecoin USD  vs.  Poloniex Stellar USD

Yobit

Dogecoin on Yobit in USD
 0.003767 
0.000621  19.74%
Market Cap: 21.8 K
  

Poloniex

Stellar on Poloniex in USD
 0.30 
0.0464  18.27%
Market Cap: 675.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Dogecoin USD is expected to generate 1.41 times more return on investment than Poloniex Stellar. However, Yobit Dogecoin is 1.41 times more volatile than Poloniex Stellar USD. It trades about 0.15 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.16 per unit of risk. If you would invest  0.30  in Yobit Dogecoin USD on June 18, 2018 and sell it today you would earn a total of  0.07  from holding Yobit Dogecoin USD or generate 24.53% return on investment over 30 days.

Pair Corralation between Yobit Dogecoin and Poloniex Stellar

-0.19
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy73.33%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Dogecoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dogecoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Poloniex Stellar USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1201.28

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.