Pair Correlation Between Poloniex Augur and Yobit PoSWallet

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

Poloniex

Augur on Poloniex in USD
 75.21 
(1.29)  1.69%
Market Cap: 50.3 M

Yobit

PoSWallet on Yobit in USD
 0.73 
(0.07)  8.75%
Market Cap: 62.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 28.09 times less return on investment than Yobit PoSWallet. But when comparing it to its historical volatility, Poloniex Augur USD is 2.61 times less risky than Yobit PoSWallet. It trades about 0.01 of its potential returns per unit of risk. Yobit PoSWallet USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  80  in Yobit PoSWallet USD on December 20, 2017 and sell it today you would lose (3)  from holding Yobit PoSWallet USD or give up 3.75% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Yobit PoSWallet
0.62

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
0 

Risk-Adjusted Performance

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

Poloniex Augur USD

Pair trading matchups for Poloniex Augur

Yobit PoSWallet USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PoSWallet USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Yobit PoSWallet USD

Pair trading matchups for Yobit PoSWallet