Pair Correlation Between Poloniex Augur and HitBTC Stratis

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

Poloniex Augur USD  vs.  HitBTC Stratis USD

Poloniex

Augur on Poloniex in USD
 42.36 
2.21  5.50%
Market Cap: 14.4 M
  

HitBTC

Stratis on HitBTC in USD
 6.23 
0.35  5.95%
Market Cap: 20.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 1.1 times more return on investment than HitBTC Stratis. However, Poloniex Augur is 1.1 times more volatile than HitBTC Stratis USD. It trades about 0.03 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about -0.03 per unit of risk. If you would invest  4,300  in Poloniex Augur USD on March 24, 2018 and sell it today you would lose (184.00)  from holding Poloniex Augur USD or give up 4.28% of portfolio value over 30 days.

Pair Corralation between Poloniex Augur and HitBTC Stratis

0.91
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Augur USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
HitBTC Stratis USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Stratis USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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Fama & French Restaurants Hotels Motels
Restaurants Hotels Motels
Fama & French Classification
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ExchangeNASDAQ
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