Correlation Analysis Between Kraken Monero and Poloniex Augur

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

Kraken Monero USD  vs.  Poloniex Augur USD

Kraken

Monero on Kraken in USD

 104.08 
0.44  0.42%
Market Cap: 10.1 M
  

Poloniex

Augur on Poloniex in USD

 12.83 
0.08  0.62%
Market Cap: 201 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Poloniex Augur. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 1.13 times less risky than Poloniex Augur. The crypto trades about -0.03 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  1,238  in Poloniex Augur USD on September 16, 2018 and sell it today you would earn a total of  26.00  from holding Poloniex Augur USD or generate 2.1% return on investment over 30 days.

Pair Corralation between Kraken Monero and Poloniex Augur

0.73
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Monero USD  
0 

Risk-Adjusted Performance

Over the last 30 days Kraken Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Poloniex Augur USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

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