Correlation Analysis Between Kraken Augur and Coinroom ZCoin

This module allows you to analyze existing cross correlation between Kraken Augur USD and Coinroom ZCoin USD. You can compare the effects of market volatilities on Kraken Augur and Coinroom ZCoin 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 Coinroom ZCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Augur and Coinroom ZCoin.
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.
Coinroom ZCoin USD  
0

Risk-Adjusted Performance

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

Kraken Augur and Coinroom ZCoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Augur USD  vs.  Coinroom ZCoin USD

Kraken

Augur on Kraken in USD

 5.82 
0.39  7.18%
Market Cap: 4.8 K
  

Coinroom

ZCoin on Coinroom in USD

 4.15 
(0.14)  3.26%
Market Cap: 161
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to under-perform the Coinroom ZCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Augur USD is 1.33 times less risky than Coinroom ZCoin. The crypto trades about -0.17 of its potential returns per unit of risk. The Coinroom ZCoin USD is currently generating about -0.12 of returns per unit of risk over similar time horizon. If you would invest  945.00  in Coinroom ZCoin USD on November 15, 2018 and sell it today you would lose (530.00)  from holding Coinroom ZCoin USD or give up 56.08% of portfolio value over 30 days.

Pair Corralation between Kraken Augur and Coinroom ZCoin

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Kraken Augur and Coinroom ZCoin

Kraken Augur USD diversification synergy

Almost no diversification

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

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