Correlation Analysis Between Kraken Augur and Bitfinex NEO

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

Kraken Augur USD  vs.  Bitfinex NEO USD


Augur on Kraken in USD

0.19  1.42%
Market Cap: 156 K


NEO on Bitfinex in USD

1.65  9.30%
Market Cap: 98.8 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to under-perform the Bitfinex NEO. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Augur USD is 1.26 times less risky than Bitfinex NEO. The crypto trades about -0.25 of its potential returns per unit of risk. The Bitfinex NEO USD is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  1,752  in Bitfinex NEO USD on August 22, 2018 and sell it today you would earn a total of  188.00  from holding Bitfinex NEO USD or generate 10.73% return on investment over 30 days.

Pair Corralation between Kraken Augur and Bitfinex NEO

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Augur USD and Bitfinex NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex NEO USD and Kraken Augur 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 Kraken Augur USD are associated (or correlated) with Bitfinex NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex NEO USD has no effect on the direction of Kraken Augur i.e. Kraken Augur and Bitfinex NEO go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
Kraken Augur USD  

Risk-Adjusted Performance

Over the last 30 days Kraken Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex NEO USD  

Risk-Adjusted Performance

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

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