Correlation Analysis Between Kraken Augur and Bitfinex ZCash

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

Kraken Augur USD  vs.  Bitfinex ZCash USD

Kraken

Augur on Kraken in USD
 35.91 
0.24  0.66%
Market Cap: 348.1 K
  

Bitfinex

ZCash on Bitfinex in USD
 191.81 
1.27  0.66%
Market Cap: 183.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to generate 1.11 times more return on investment than Bitfinex ZCash. However, Kraken Augur is 1.11 times more volatile than Bitfinex ZCash USD. It trades about -0.05 of its potential returns per unit of risk. Bitfinex ZCash USD is currently generating about -0.22 per unit of risk. If you would invest  4,173  in Kraken Augur USD on May 22, 2018 and sell it today you would lose (558.00)  from holding Kraken Augur USD or give up 13.37% of portfolio value over 30 days.

Pair Corralation between Kraken Augur and Bitfinex ZCash

0.88
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.77%
ValuesDaily Returns

Diversification

Very poor diversification

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

Risk-Adjusted Performance

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

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