Correlation Analysis Between Kraken Augur and P2PB2B Waves

This module allows you to analyze existing cross correlation between Kraken Augur USD and P2PB2B Waves USD. You can compare the effects of market volatilities on Kraken Augur and P2PB2B Waves 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 P2PB2B Waves. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Augur and P2PB2B Waves.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Kraken Augur USD  
00

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. Despite somewhat fragile basic indicators, Kraken Augur sustained solid returns over the last few months and may actually be approaching a breakup point.
P2PB2B Waves USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Waves USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Kraken Augur and P2PB2B Waves Volatility Contrast

Kraken Augur USD  vs.  P2PB2B Waves USD

Kraken

Augur on Kraken in USD

 10.76 
0.28  2.67%
Market Cap: 85.1 K
  

P2PB2B

Waves on P2PB2B in USD

 1.07 
(0.006)  0.56%
Market Cap: 60.8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to generate 1.13 times more return on investment than P2PB2B Waves. However, Kraken Augur is 1.13 times more volatile than P2PB2B Waves USD. It trades about 0.71 of its potential returns per unit of risk. P2PB2B Waves USD is currently generating about -0.71 per unit of risk. If you would invest  1,048  in Kraken Augur USD on August 21, 2019 and sell it today you would earn a total of  28.00  from holding Kraken Augur USD or generate 2.67% return on investment over 30 days.

Pair Corralation between Kraken Augur and P2PB2B Waves

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Kraken Augur and P2PB2B Waves

Kraken Augur USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Augur USD and P2PB2B Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Waves 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 P2PB2B Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Waves USD has no effect on the direction of Kraken Augur i.e. Kraken Augur and P2PB2B Waves go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.


 
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