Correlation Analysis Between Yobit Reddcoin and Poloniex Stellar

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

Yobit Reddcoin USD  vs.  Poloniex Stellar USD

Yobit

Reddcoin on Yobit in USD
 0.00598 
0.000164  2.67%
Market Cap: 383
  

Poloniex

Stellar on Poloniex in USD
 0.23 
0.0057  2.54%
Market Cap: 117.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Reddcoin USD is expected to generate 1.39 times more return on investment than Poloniex Stellar. However, Yobit Reddcoin is 1.39 times more volatile than Poloniex Stellar USD. It trades about -0.03 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  0.70  in Yobit Reddcoin USD on May 23, 2018 and sell it today you would lose (0.09)  from holding Yobit Reddcoin USD or give up 12.28% of portfolio value over 30 days.

Pair Corralation between Yobit Reddcoin and Poloniex Stellar

0.76
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Reddcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Reddcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Poloniex Stellar USD  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Stellar USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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