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.
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 1.11 times less risky than Poloniex Stellar. The crypto trades about -0.21 of its potential returns per unit of risk. The Poloniex Stellar USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 23.12 in Poloniex Stellar USD on June 16, 2018 and sell it today you would earn a total of 0.00 from holding Poloniex Stellar USD or generate 0.0% return on investment over 30 days.
Pair Corralation between Yobit Waves and Poloniex Stellar
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.
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