Pair Correlation Between HitBTC PeerCoin and Poloniex Augur

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

HitBTC

PeerCoin on HitBTC in USD
 3.46 
0.25  6.74%
Market Cap: 110.2 K

Poloniex

Augur on Poloniex in USD
 45.40 
1.90  4.37%
Market Cap: 40.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to generate 1.5 times more return on investment than Poloniex Augur. However, HitBTC PeerCoin is 1.5 times more volatile than Poloniex Augur USD. It trades about -0.23 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  599.00  in HitBTC PeerCoin USD on January 24, 2018 and sell it today you would lose (269.00)  from holding HitBTC PeerCoin USD or give up 44.91% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC PeerCoin and Poloniex Augur
0.42

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.67%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC PeerCoin USD

  
0 

Risk-Adjusted Performance

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

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.