Pair Correlation Between HitBTC DigitalNote and Poloniex Augur

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

HitBTC DigitalNote USD  vs.  Poloniex Augur USD

HitBTC

DigitalNote on HitBTC in USD
 0.01429 
0.00015  1.06%
Market Cap: 471 K
  

Poloniex

Augur on Poloniex in USD
 39.00 
0.27  0.70%
Market Cap: 14.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC DigitalNote USD is expected to under-perform the Poloniex Augur. In addition to that, HitBTC DigitalNote is 1.23 times more volatile than Poloniex Augur USD. It trades about -0.02 of its total potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.01 per unit of volatility. If you would invest  4,350  in Poloniex Augur USD on March 23, 2018 and sell it today you would lose (477.00)  from holding Poloniex Augur USD or give up 10.97% of portfolio value over 30 days.

Pair Corralation between HitBTC DigitalNote and Poloniex Augur

0.66
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC DigitalNote USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC DigitalNote 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.

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