Correlation Analysis Between Kraken Augur and Yobit Bitcloud

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

Kraken Augur USD  vs.  Yobit Bitcloud USD

Kraken

Augur on Kraken in USD
 29.86 
0.08  0.27%
Market Cap: 1 M
  

Yobit

Bitcloud on Yobit in USD
 0.02 
0.005  20.00%
Market Cap: 19.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to under-perform the Yobit Bitcloud. In addition to that, Kraken Augur is 1.08 times more volatile than Yobit Bitcloud USD. It trades about -0.14 of its total potential returns per unit of risk. Yobit Bitcloud USD is currently generating about 0.03 per unit of volatility. If you would invest  2.00  in Yobit Bitcloud USD on May 23, 2018 and sell it today you would lose  0.00  from holding Yobit Bitcloud USD or give up 0.05% of portfolio value over 30 days.

Pair Corralation between Kraken Augur and Yobit Bitcloud

0.54
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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