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.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Poloniex Augur USD  vs   Bitfinex NEO USD

Poloniex

Augur on Poloniex in USD
 44.39 
1.39  3.23%
Market Cap: 40.2 M

Bitfinex

NEO on Bitfinex in USD
 120.14 
4.55  3.94%
Market Cap: 2.4 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to under-perform the Bitfinex NEO. But the crypto apears to be less risky and, when comparing its historical volatility, Poloniex Augur USD is 1.51 times less risky than Bitfinex NEO. The crypto trades about -0.43 of its potential returns per unit of risk. The Bitfinex NEO USD is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest  13,891  in Bitfinex NEO USD on January 24, 2018 and sell it today you would lose (1,877)  from holding Bitfinex NEO USD or give up 13.51% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Bitfinex NEO
0.28

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest 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

  
0 

Risk-Adjusted Performance

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

Poloniex Augur USD

Pair trading matchups for Poloniex Augur

Bitfinex NEO USD

  
0 

Risk-Adjusted Performance

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

Bitfinex NEO USD

Pair trading matchups for Bitfinex NEO