Pair Correlation Between CCEX BitZeny and Poloniex Augur

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

CCEX

BitZeny on CCEX in USD
 0.19 
(0.12)  39.58%
Market Cap: 192

Poloniex

Augur on Poloniex in USD
 42.85 
0.45  1.06%
Market Cap: 96.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BitZeny USD is expected to generate 22.2 times more return on investment than Poloniex Augur. However, CCEX BitZeny is 22.2 times more volatile than Poloniex Augur USD. It trades about 0.26 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.35 per unit of risk. If you would invest  0.38  in CCEX BitZeny USD on November 17, 2017 and sell it today you would earn a total of  18.53  from holding CCEX BitZeny USD or generate 4863.25% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BitZeny and Poloniex Augur
0.12

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 CCEX BitZeny 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 BitZeny 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 BitZeny 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 BitZeny i.e. CCEX BitZeny and Poloniex Augur go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX BitZeny USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BitZeny USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Poloniex Augur USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.