Correlation Analysis Between Poloniex Augur and Yobit CometCoin

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

Poloniex Augur USD  vs.  Yobit CometCoin USD

Poloniex

Augur on Poloniex in USD
 29.72 
1.51  5.35%
Market Cap: 2.5 M
  

Yobit

CometCoin on Yobit in USD
 0.07 
0.00027  0.40%
Market Cap: 10.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 10.02 times less return on investment than Yobit CometCoin. But when comparing it to its historical volatility, Poloniex Augur USD is 1.34 times less risky than Yobit CometCoin. It trades about 0.03 of its potential returns per unit of risk. Yobit CometCoin USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  5.00  in Yobit CometCoin USD on June 21, 2018 and sell it today you would earn a total of  1.82  from holding Yobit CometCoin USD or generate 36.39% return on investment over 30 days.

Pair Corralation between Poloniex Augur and Yobit CometCoin

0.17
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and Yobit CometCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit CometCoin 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 Yobit CometCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit CometCoin USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Yobit CometCoin 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.
Yobit CometCoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CometCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

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