This module allows you to analyze existing cross correlation between Poloniex Augur USD and Yobit Rise USD. You can compare the effects of market volatilities on Poloniex Augur and Yobit Rise 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 Rise. See also your portfolio center
. Please also check ongoing floating volatility patterns of Poloniex Augur
and Yobit Rise
Poloniex Augur USD vs Yobit Rise USD
Assuming 30 trading days horizon, Poloniex Augur is expected to generate 41.25 times less return on investment than Yobit Rise. But when comparing it to its historical volatility, Poloniex Augur USD is 2.97 times less risky than Yobit Rise. It trades about 0.01 of its potential returns per unit of risk. Yobit Rise USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 46 in Yobit Rise USD on December 20, 2017 and sell it today you would earn a total of 27 from holding Yobit Rise USD or generate 58.7% 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 Yobit Rise USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Rise 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 Rise. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Rise USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Yobit Rise go up and down completely randomly.
Over the last 30 days Poloniex Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rise USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.