This module allows you to analyze existing cross correlation between HitBTC PeerCoin USD and Poloniex Augur USD. You can compare the effects of market volatilities on HitBTC PeerCoin 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 HitBTC PeerCoin with a short position of Poloniex Augur. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC PeerCoin and Poloniex Augur.
Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to under-perform the Poloniex Augur. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC PeerCoin USD is 1.39 times less risky than Poloniex Augur. The crypto trades about -0.17 of its potential returns per unit of risk. The Poloniex Augur USD is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 5,353 in Poloniex Augur USD on March 20, 2018 and sell it today you would lose (1,553) from holding Poloniex Augur USD or give up 29.01% of portfolio value over 30 days.
Pair Corralation between HitBTC PeerCoin and Poloniex Augur
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC PeerCoin 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 HitBTC PeerCoin 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 HitBTC PeerCoin 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 HitBTC PeerCoin i.e. HitBTC PeerCoin and Poloniex Augur go up and down completely randomly.
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