Pair Correlation Between Yobit Dogecoin and Poloniex Augur

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

Yobit

Dogecoin on Yobit in USD
 0.0125 
0.0051  68.92%
Market Cap: 303.1 K

Poloniex

Augur on Poloniex in USD
 60.5 
1.5  2.54%
Market Cap: 183.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Dogecoin USD is expected to generate 1.29 times more return on investment than Poloniex Augur. However, Yobit Dogecoin is 1.29 times more volatile than Poloniex Augur USD. It trades about 0.1 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.08 per unit of risk. If you would invest  0.65  in Yobit Dogecoin USD on December 18, 2017 and sell it today you would earn a total of  0.09  from holding Yobit Dogecoin USD or generate 13.85% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Dogecoin and Poloniex Augur
0.59

Parameters

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

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Dogecoin 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 Dogecoin 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 Dogecoin 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 Dogecoin i.e. Yobit Dogecoin and Poloniex Augur go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Dogecoin USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dogecoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Poloniex Augur USD

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.