Pair Correlation Between HitBTC Verge and Poloniex Augur

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

HitBTC

Verge on HitBTC in USD
 0.0959 
(0.00147)  1.51%
Market Cap: 76.7 K

Poloniex

Augur on Poloniex in USD
 87.5 
7.48  9.35%
Market Cap: 110.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Verge is expected to generate 7.81 times less return on investment than Poloniex Augur. In addition to that, HitBTC Verge is 1.68 times more volatile than Poloniex Augur USD. It trades about 0.01 of its total potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.1 per unit of volatility. If you would invest  7,582  in Poloniex Augur USD on December 25, 2017 and sell it today you would earn a total of  1,168  from holding Poloniex Augur USD or generate 15.4% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Verge and Poloniex Augur
0.36

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Verge USD

  
0 

Risk-Adjusted Performance

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

Poloniex Augur USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.