Pair Correlation Between Yobit HempCoin and Poloniex Augur

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

Yobit

HempCoin on Yobit in USD
 0.0001399 
0.0000139  11.03%
Market Cap: 4.3 K

Poloniex

Augur on Poloniex in USD
 90.45 
2.95  3.37%
Market Cap: 110.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit HempCoin USD is expected to generate 7.94 times more return on investment than Poloniex Augur. However, Yobit HempCoin is 7.94 times more volatile than Poloniex Augur USD. It trades about 0.17 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.11 per unit of risk. If you would invest  0.01  in Yobit HempCoin USD on December 25, 2017 and sell it today you would lose  0.00  from holding Yobit HempCoin USD or give up 3.08% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit HempCoin and Poloniex Augur
0.02

Parameters

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

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit HempCoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HempCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Yobit HempCoin USD

Pair trading matchups for Yobit HempCoin

Poloniex Augur USD

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

Poloniex Augur USD

Pair trading matchups for Poloniex Augur