Pair Correlation Between Kraken Augur and HitBTC DigitalNote

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


Augur on Kraken in USD
2.06  6.38%
Market Cap: 666.2 K


DigitalNote on HitBTC in USD
0.00081  8.91%
Market Cap: 215.2 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to generate 4.83 times more return on investment than HitBTC DigitalNote. However, Kraken Augur is 4.83 times more volatile than HitBTC DigitalNote USD. It trades about 0.13 of its potential returns per unit of risk. HitBTC DigitalNote USD is currently generating about -0.4 per unit of risk. If you would invest  2,052  in Kraken Augur USD on February 15, 2018 and sell it today you would earn a total of  1,194  from holding Kraken Augur USD or generate 58.19% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Kraken Augur and HitBTC DigitalNote


Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density 

Kraken Augur USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Augur USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

HitBTC DigitalNote USD


Risk-Adjusted Performance

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