Correlation Analysis Between Poloniex Augur and Yobit Reddcoin

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

Poloniex Augur USD  vs.  Yobit Reddcoin USD

Poloniex

Augur on Poloniex in USD
 29.19 
0.63  2.21%
Market Cap: 2.5 M
  

Yobit

Reddcoin on Yobit in USD
 0.004485 
0.000271  6.43%
Market Cap: 120
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 1.21 times more return on investment than Yobit Reddcoin. However, Poloniex Augur is 1.21 times more volatile than Yobit Reddcoin USD. It trades about -0.17 of its potential returns per unit of risk. Yobit Reddcoin USD is currently generating about -0.35 per unit of risk. If you would invest  3,650  in Poloniex Augur USD on June 16, 2018 and sell it today you would lose (794.00)  from holding Poloniex Augur USD or give up 21.75% of portfolio value over 30 days.

Pair Corralation between Poloniex Augur and Yobit Reddcoin

0.43
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Risk-Adjusted Performance

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

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