Pair Correlation Between Yobit Ubiqoin and Poloniex Stellar

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

Yobit

Ubiqoin on Yobit in USD
 0.00667 
(0.00221)  24.89%
Market Cap: 13.0

Poloniex

Stellar on Poloniex in USD
 0.47 
(0.0391)  7.65%
Market Cap: 3.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ubiqoin USD is expected to generate 4.08 times more return on investment than Poloniex Stellar. However, Yobit Ubiqoin is 4.08 times more volatile than Poloniex Stellar USD. It trades about 0.18 of its potential returns per unit of risk. Poloniex Stellar USD is currently generating about 0.21 per unit of risk. If you would invest  1.44  in Yobit Ubiqoin USD on December 22, 2017 and sell it today you would lose (0.78)  from holding Yobit Ubiqoin USD or give up 53.81% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Ubiqoin and Poloniex Stellar
-0.39

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 Ubiqoin 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 Ubiqoin 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 Ubiqoin 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 Ubiqoin i.e. Yobit Ubiqoin and Poloniex Stellar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Ubiqoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ubiqoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Yobit Ubiqoin USD

Pair trading matchups for Yobit Ubiqoin

Poloniex Stellar USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Stellar USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Poloniex Stellar USD

Pair trading matchups for Poloniex Stellar