Correlation Analysis Between Poloniex Augur and Coinbase Bitcoin

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

Poloniex Augur USD  vs.  Coinbase Bitcoin USD

Poloniex

Augur on Poloniex in USD

 13.06 
0.28  2.19%
Market Cap: 201 K
  

Coinbase

Bitcoin on Coinbase in USD

 6,444 
71.76  1.13%
Market Cap: 51.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to under-perform the Coinbase Bitcoin. In addition to that, Poloniex Augur is 1.8 times more volatile than Coinbase Bitcoin USD. It trades about -0.01 of its total potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.01 per unit of volatility. If you would invest  642,278  in Coinbase Bitcoin USD on September 19, 2018 and sell it today you would lose (5,084)  from holding Coinbase Bitcoin USD or give up 0.79% of portfolio value over 30 days.

Pair Corralation between Poloniex Augur and Coinbase Bitcoin

0.43
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
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.

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ExchangeNASDAQ
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