Correlation Analysis Between Kraken Augur and Bitfinex SingularDTV

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

Kraken Augur USD  vs.  Bitfinex SingularDTV USD

Kraken

Augur on Kraken in USD

 13.49 
0.87  6.06%
Market Cap: 156 K
  

Bitfinex

SingularDTV on Bitfinex in USD

 0.02427 
0.00077  3.28%
Market Cap: 296
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to under-perform the Bitfinex SingularDTV. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Augur USD is 1.42 times less risky than Bitfinex SingularDTV. The crypto trades about -0.2 of its potential returns per unit of risk. The Bitfinex SingularDTV USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  2.47  in Bitfinex SingularDTV USD on August 23, 2018 and sell it today you would lose (0.04)  from holding Bitfinex SingularDTV USD or give up 1.58% of portfolio value over 30 days.

Pair Corralation between Kraken Augur and Bitfinex SingularDTV

0.4
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Augur USD  
0 

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 SingularDTV USD  
2 

Risk-Adjusted Performance

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

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