Pair Correlation 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Coinbase Bitcoin USD  vs.  Poloniex Augur USD

Coinbase

Bitcoin on Coinbase in USD
 8,930 
120.98  1.37%
Market Cap: 615.2 B
  

Poloniex

Augur on Poloniex in USD
 40.40 
1.67  4.31%
Market Cap: 14.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the Poloniex Augur. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 1.52 times less risky than Poloniex Augur. The crypto trades about -0.01 of its potential returns per unit of risk. The Poloniex Augur USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  4,350  in Poloniex Augur USD on March 23, 2018 and sell it today you would lose (310.00)  from holding Poloniex Augur USD or give up 7.13% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and Poloniex Augur

0.89
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very 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.
Poloniex Augur USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..