Pair Correlation Between Yobit Decred and Poloniex Augur

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

Yobit

Decred on Yobit in USD
 110 
16.8  18.03%
Market Cap: 427.8 K

Poloniex

Augur on Poloniex in USD
 73.26 
11.26  18.16%
Market Cap: 50.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Decred USD is expected to generate 0.8 times more return on investment than Poloniex Augur. However, Yobit Decred USD is 1.25 times less risky than Poloniex Augur. It trades about 0.04 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.02 per unit of risk. If you would invest  9,500  in Yobit Decred USD on December 20, 2017 and sell it today you would lose (180)  from holding Yobit Decred USD or give up 1.89% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Decred and Poloniex Augur
0.66

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Decred USD

  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Decred USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Yobit Decred USD

Pair trading matchups for Yobit Decred

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.

Poloniex Augur USD

Pair trading matchups for Poloniex Augur