Pair Correlation Between Poloniex Augur and HitBTC DigitalCash |
This module allows you to analyze existing cross correlation between Poloniex Augur USD and HitBTC DigitalCash USD. You can compare the effects of market volatilities on Poloniex Augur and HitBTC DigitalCash 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 DigitalCash. See also your portfolio center. Please also check ongoing floating volatility patterns of Poloniex Augur and HitBTC DigitalCash.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
Poloniex Augur USD vs. HitBTC DigitalCash USD
PoloniexAugur on Poloniex in USD 42.50
| HitBTCDigitalCash on HitBTC in USD 501.68
|
Pair Volatility
Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 1.23 times more return on investment than HitBTC DigitalCash. However, Poloniex Augur is 1.23 times more volatile than HitBTC DigitalCash USD. It trades about 0.04 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.02 per unit of risk. If you would invest 4,260 in Poloniex Augur USD on March 26, 2018 and sell it today you would lose (10.00) from holding Poloniex Augur USD or give up 0.23% of portfolio value over 30 days.
Pair Corralation between Poloniex Augur and HitBTC DigitalCash
0.93
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and HitBTC DigitalCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigitalCash 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 DigitalCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigitalCash USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and HitBTC DigitalCash go up and down completely randomly.
Comparative Volatility
| Poloniex Augur USD |
2 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared 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.
Poloniex Augur USD
Pair trading matchups for Poloniex Augur
| HitBTC DigitalCash USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC DigitalCash USD
Pair trading matchups for HitBTC DigitalCash
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See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.