Correlation Analysis Between Exmo NEM and P2PB2B Stellar

This module allows you to analyze existing cross correlation between Exmo NEM USD and P2PB2B Stellar USD. You can compare the effects of market volatilities on Exmo NEM and P2PB2B 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 Exmo NEM with a short position of P2PB2B Stellar. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo NEM and P2PB2B Stellar.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Exmo NEM USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Exmo NEM is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
P2PB2B Stellar USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Stellar USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, P2PB2B Stellar is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Exmo NEM and P2PB2B Stellar Volatility Contrast

Exmo NEM USD  vs.  P2PB2B Stellar USD

Exmo

NEM on Exmo in USD

 0.04607 
0.00  0.00%
Market Cap: 7.6 K
  

P2PB2B

Stellar on P2PB2B in USD

 0.06 
0.00  0.00%
Market Cap: 1 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  5.88  in P2PB2B Stellar USD on August 16, 2019 and sell it today you would earn a total of  0.00  from holding P2PB2B Stellar USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Exmo NEM and P2PB2B Stellar

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for Exmo NEM and P2PB2B Stellar

Exmo NEM USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo NEM USD and P2PB2B Stellar USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Stellar USD and Exmo NEM 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 Exmo NEM USD are associated (or correlated) with P2PB2B Stellar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Stellar USD has no effect on the direction of Exmo NEM i.e. Exmo NEM and P2PB2B Stellar go up and down completely randomly.
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