Correlation Analysis 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
 2.56 
0.13  4.83%
Market Cap: 173.6 K
  

Poloniex

Augur on Poloniex in USD
 50.54 
1.14  2.21%
Market Cap: 8.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC PeerCoin is expected to generate 3.22 times less return on investment than Poloniex Augur. But when comparing it to its historical volatility, HitBTC PeerCoin USD is 1.06 times less risky than Poloniex Augur. It trades about 0.04 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  4,236  in Poloniex Augur USD on April 22, 2018 and sell it today you would earn a total of  898.00  from holding Poloniex Augur USD or generate 21.2% return on investment over 30 days.

Pair Corralation between HitBTC PeerCoin and Poloniex Augur

-0.36
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good 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  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC PeerCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Poloniex Augur USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

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