Pair Correlation Between Yobit TekCoin and Poloniex Stellar

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

Yobit

TekCoin on Yobit in USD
 0.00025 
0.000015  6.38%
Market Cap: 1.1 K

Poloniex

Stellar on Poloniex in USD
 0.46 
0.074  19.02%
Market Cap: 2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit TekCoin USD is expected to generate 8.61 times more return on investment than Poloniex Stellar. However, Yobit TekCoin is 8.61 times more volatile than Poloniex Stellar USD. It trades about 0.19 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.15 per unit of risk. If you would invest  0.01  in Yobit TekCoin USD on December 18, 2017 and sell it today you would earn a total of  0.01  from holding Yobit TekCoin USD or generate 87.5% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit TekCoin and Poloniex Stellar
0.37

Parameters

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

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit TekCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit TekCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit TekCoin USD

Pair trading matchups for Yobit TekCoin

Poloniex Stellar USD

  
9 

Risk-Adjusted Performance

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

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar