Correlation Analysis Between Kraken Augur and Yobit Reddcoin

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

Kraken Augur USD  vs.  Yobit Reddcoin USD

Kraken

Augur on Kraken in USD
 34.38 
0.49  1.41%
Market Cap: 348.1 K
  

Yobit

Reddcoin on Yobit in USD
 0.006008 
0.000232  3.72%
Market Cap: 1.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to under-perform the Yobit Reddcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Augur USD is 1.1 times less risky than Yobit Reddcoin. The crypto trades about -0.18 of its potential returns per unit of risk. The Yobit Reddcoin USD is currently generating about -0.07 of returns per unit of risk over similar time horizon. If you would invest  0.77  in Yobit Reddcoin USD on May 20, 2018 and sell it today you would lose (0.15)  from holding Yobit Reddcoin USD or give up 19.21% of portfolio value over 30 days.

Pair Corralation between Kraken Augur and Yobit Reddcoin

0.79
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

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

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.