Pair Correlation Between Bitfinex Recovery and Poloniex Augur

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

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.15 
(0.0071)  4.55%
Market Cap: 112.3 K

Poloniex

Augur on Poloniex in USD
 88.3 
0.8  0.91%
Market Cap: 110.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to under-perform the Poloniex Augur. In addition to that, Bitfinex Recovery is 1.13 times more volatile than Poloniex Augur USD. It trades about -0.07 of its total potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.1 per unit of volatility. If you would invest  7,582  in Poloniex Augur USD on December 25, 2017 and sell it today you would earn a total of  1,168  from holding Poloniex Augur USD or generate 15.4% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitfinex Recovery and Poloniex Augur
0.17

Parameters

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

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitfinex Recovery Right

  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Poloniex Augur USD

  
6 

Risk-Adjusted Performance

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