Pair Correlation Between Poloniex Augur and Bitfinex NEO

This module allows you to analyze existing cross correlation between Poloniex Augur USD and Bitfinex NEO USD. You can compare the effects of market volatilities on Poloniex Augur and Bitfinex NEO 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 Poloniex Augur with a short position of Bitfinex NEO. See also your portfolio center. Please also check ongoing floating volatility patterns of Poloniex Augur and Bitfinex NEO.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Poloniex Augur USD  vs   Bitfinex NEO USD

Poloniex

Augur on Poloniex in USD
 33.93 
3.72  12.31%
Market Cap: 21.3 M

Bitfinex

NEO on Bitfinex in USD
 38.78 
3.2  8.99%
Market Cap: 713.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 0.9 times more return on investment than Bitfinex NEO. However, Poloniex Augur USD is 1.11 times less risky than Bitfinex NEO. It trades about 0.32 of its potential returns per unit of risk. Bitfinex NEO USD is currently generating about 0.16 per unit of risk. If you would invest  1,736  in Poloniex Augur USD on November 12, 2017 and sell it today you would earn a total of  1,657  from holding Poloniex Augur USD or generate 95.45% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Bitfinex NEO
0.5

Parameters

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 Poloniex Augur USD and Bitfinex NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex NEO USD and Poloniex 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 Poloniex Augur USD are associated (or correlated) with Bitfinex NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex NEO USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Bitfinex NEO go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

Bitfinex NEO USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex NEO USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.