Correlation Analysis Between Kraken Augur and CCEX Dogecoin

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

Comparative Performance

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.
CCEX Dogecoin USD  
0

Risk-Adjusted Performance

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

Kraken Augur and CCEX Dogecoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Augur USD  vs.  CCEX Dogecoin USD

Kraken

Augur on Kraken in USD

 5.92 
0.00  0.00%
Market Cap: 3.6 K
  

CCEX

Dogecoin on CCEX in USD

 0.0022 
(0.00005)  2.22%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to under-perform the CCEX Dogecoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Augur USD is 1.06 times less risky than CCEX Dogecoin. The crypto trades about -0.18 of its potential returns per unit of risk. The CCEX Dogecoin USD is currently generating about -0.17 of returns per unit of risk over similar time horizon. If you would invest  0.46  in CCEX Dogecoin USD on November 13, 2018 and sell it today you would lose (0.24)  from holding CCEX Dogecoin USD or give up 52.17% of portfolio value over 30 days.

Pair Corralation between Kraken Augur and CCEX Dogecoin

0.73
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy95.45%
ValuesDaily Returns

Diversification Opportunities for Kraken Augur and CCEX Dogecoin

Kraken Augur USD diversification synergy

Poor diversification

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

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See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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