This module allows you to analyze existing cross correlation between Poloniex Augur USD and HitBTC DigiByte USD. You can compare the effects of market volatilities on Poloniex Augur and HitBTC DigiByte 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 DigiByte. See also your portfolio center
. Please also check ongoing floating volatility patterns of Poloniex Augur
and HitBTC DigiByte
Poloniex Augur USD vs HitBTC DigiByte USD
Assuming 30 trading days horizon, Poloniex Augur is expected to generate 2.19 times less return on investment than HitBTC DigiByte. But when comparing it to its historical volatility, Poloniex Augur USD is 1.55 times less risky than HitBTC DigiByte. It trades about 0.11 of its potential returns per unit of risk. HitBTC DigiByte USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 4.4 in HitBTC DigiByte USD on December 21, 2017 and sell it today you would earn a total of 2.44 from holding HitBTC DigiByte USD or generate 55.45% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and HitBTC DigiByte USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigiByte 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 DigiByte. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigiByte USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and HitBTC DigiByte go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC DigiByte USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.