Pair Correlation Between Cexio Ethereum and Poloniex Augur

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

Cexio

Ethereum on Cexio in USD
 1,150 
(59.95)  4.95%
Market Cap: 7.8 B

Poloniex

Augur on Poloniex in USD
 98.15 
(1.65)  1.65%
Market Cap: 50.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 1.44 times less return on investment than Poloniex Augur. But when comparing it to its historical volatility, Cexio Ethereum USD is 1.16 times less risky than Poloniex Augur. It trades about 0.16 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  6,250  in Poloniex Augur USD on December 22, 2017 and sell it today you would earn a total of  3,730  from holding Poloniex Augur USD or generate 59.68% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and Poloniex Augur
0.83

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.77%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Ethereum USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum

Poloniex Augur USD

  
12 

Risk-Adjusted Performance

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

Poloniex Augur USD

Pair trading matchups for Poloniex Augur