This module allows you to analyze existing cross correlation between Poloniex Augur USD and HitBTC ByteCoin USD. You can compare the effects of market volatilities on Poloniex Augur and HitBTC ByteCoin 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 HitBTC ByteCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Poloniex Augur
and HitBTC ByteCoin
Poloniex Augur USD vs HitBTC ByteCoin USD
Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 1.25 times more return on investment than HitBTC ByteCoin. However, Poloniex Augur is 1.25 times more volatile than HitBTC ByteCoin USD. It trades about -0.04 of its potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about -0.31 per unit of risk. If you would invest 4,300 in Poloniex Augur USD on February 22, 2018 and sell it today you would lose (652.00) from holding Poloniex Augur USD or give up 15.16% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and HitBTC ByteCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ByteCoin 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 HitBTC ByteCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ByteCoin USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and HitBTC ByteCoin go up and down completely randomly.
Over the last 30 days Poloniex Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC ByteCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.