Correlation Analysis Between Yobit Waves and Poloniex Stellar

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

Yobit Waves USD  vs.  Poloniex Stellar USD

Yobit

Waves on Yobit in USD

 2.08 
0.02  0.95%
Market Cap: 843
  

Poloniex

Stellar on Poloniex in USD

 0.24 
0.0102  4.02%
Market Cap: 928.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Waves USD is expected to under-perform the Poloniex Stellar. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Waves USD is 1.72 times less risky than Poloniex Stellar. The crypto trades about -0.17 of its potential returns per unit of risk. The Poloniex Stellar USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  20.78  in Poloniex Stellar USD on September 18, 2018 and sell it today you would earn a total of  3.56  from holding Poloniex Stellar USD or generate 17.13% return on investment over 30 days.

Pair Corralation between Yobit Waves and Poloniex Stellar

0.32
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 Waves 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 Waves 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 Waves 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 Waves i.e. Yobit Waves and Poloniex Stellar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Waves USD  
0 

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.


 
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