Correlation Analysis Between CCEX Dogecoin and Kraken Augur

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

CCEX Dogecoin USD  vs.  Kraken Augur USD

CCEX

Dogecoin on CCEX in USD
 0.00255 
0.0003  10.53%
Market Cap: 327
  

Kraken

Augur on Kraken in USD
 33.68 
0.17  0.50%
Market Cap: 348.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Dogecoin USD is expected to under-perform the Kraken Augur. In addition to that, CCEX Dogecoin is 1.15 times more volatile than Kraken Augur USD. It trades about -0.22 of its total potential returns per unit of risk. Kraken Augur USD is currently generating about -0.22 per unit of volatility. If you would invest  5,382  in Kraken Augur USD on May 19, 2018 and sell it today you would lose (2,014)  from holding Kraken Augur USD or give up 37.42% of portfolio value over 30 days.

Pair Corralation between CCEX Dogecoin and Kraken Augur

0.69
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 Dogecoin USD and Kraken Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Augur USD and CCEX 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 CCEX Dogecoin USD are associated (or correlated) with Kraken Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Augur USD has no effect on the direction of CCEX Dogecoin i.e. CCEX Dogecoin and Kraken Augur go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
CCEX Dogecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days CCEX Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Kraken Augur USD  
0 

Risk-Adjusted Performance

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

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