Pair Correlation Between HitBTC ZCash and Poloniex Augur

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

HitBTC

ZCash on HitBTC in USD
 491.21 
13.1  2.74%
Market Cap: 1.4 B

Poloniex

Augur on Poloniex in USD
 68.65 
6.65  10.73%
Market Cap: 50.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC ZCash USD is expected to under-perform the Poloniex Augur. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC ZCash USD is 1.2 times less risky than Poloniex Augur. The crypto trades about -0.08 of its potential returns per unit of risk. The Poloniex Augur USD is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest  8,277  in Poloniex Augur USD on December 20, 2017 and sell it today you would lose (2,077)  from holding Poloniex Augur USD or give up 25.09% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC ZCash and Poloniex Augur
0.83

Parameters

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

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC ZCash USD

  
0 

Risk-Adjusted Performance

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

HitBTC ZCash USD

Pair trading matchups for HitBTC ZCash

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.

Poloniex Augur USD

Pair trading matchups for Poloniex Augur