Correlation Analysis Between Coinbase Bitcoin and Poloniex Augur

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

Coinbase Bitcoin USD  vs.  Poloniex Augur USD

Coinbase

Bitcoin on Coinbase in USD

 6,395 
38.16  0.59%
Market Cap: 51.6 B
  

Poloniex

Augur on Poloniex in USD

 13.14 
0.40  3.14%
Market Cap: 201 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.56 times more return on investment than Poloniex Augur. However, Coinbase Bitcoin USD is 1.8 times less risky than Poloniex Augur. It trades about -0.09 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about -0.08 per unit of risk. If you would invest  671,299  in Coinbase Bitcoin USD on September 21, 2018 and sell it today you would lose (27,953)  from holding Coinbase Bitcoin USD or give up 4.16% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and Poloniex Augur

0.79
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin 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 Coinbase Bitcoin 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 Coinbase Bitcoin 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 Coinbase Bitcoin i.e. Coinbase Bitcoin and Poloniex Augur go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
0 

Risk-Adjusted Performance

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

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

Poloniex Augur USD  
0 

Risk-Adjusted Performance

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

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