This module allows you to analyze existing cross correlation between HitBTC DigiByte USD and Poloniex Augur USD. You can compare the effects of market volatilities on HitBTC DigiByte 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 HitBTC DigiByte with a short position of Poloniex Augur. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC DigiByte
and Poloniex Augur
HitBTC DigiByte USD vs Poloniex Augur USD
Assuming 30 trading days horizon, HitBTC DigiByte USD is expected to under-perform the Poloniex Augur. In addition to that, HitBTC DigiByte is 1.05 times more volatile than Poloniex Augur USD. It trades about -0.34 of its total potential returns per unit of risk. Poloniex Augur USD is currently generating about -0.28 per unit of volatility. If you would invest 5,343 in Poloniex Augur USD on February 15, 2018 and sell it today you would lose (2,250) from holding Poloniex Augur USD or give up 42.11% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC DigiByte 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 HitBTC DigiByte 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 HitBTC DigiByte 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 HitBTC DigiByte i.e. HitBTC DigiByte and Poloniex Augur go up and down completely randomly.
Over the last 30 days HitBTC DigiByte USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Poloniex Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.