Pair Correlation Between CCEX AlpaCoin and Poloniex Augur

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

CCEX

AlpaCoin on CCEX in USD
 0.00556 
0.002558  31.51%
Market Cap: 46.0

Poloniex

Augur on Poloniex in USD
 43.38 
0.12  0.28%
Market Cap: 40.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX AlpaCoin USD is expected to generate 16.3 times more return on investment than Poloniex Augur. However, CCEX AlpaCoin is 16.3 times more volatile than Poloniex Augur USD. It trades about 0.21 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about -0.43 per unit of risk. If you would invest  0.25  in CCEX AlpaCoin USD on January 24, 2018 and sell it today you would earn a total of  0.31  from holding CCEX AlpaCoin USD or generate 124.92% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX AlpaCoin and Poloniex Augur
0.75

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX AlpaCoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX AlpaCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Poloniex Augur USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.