Correlation Analysis Between Poloniex Augur and CCEX Asiadigicoin

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

Poloniex Augur USD  vs.  CCEX Asiadigicoin USD

Poloniex

Augur on Poloniex in USD
 33.78 
0.58  1.69%
Market Cap: 9.8 M
  

CCEX

Asiadigicoin on CCEX in USD
 0.001298 
0.000111  9.35%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 0.45 times more return on investment than CCEX Asiadigicoin. However, Poloniex Augur USD is 2.23 times less risky than CCEX Asiadigicoin. It trades about -0.2 of its potential returns per unit of risk. CCEX Asiadigicoin USD is currently generating about -0.13 per unit of risk. If you would invest  5,114  in Poloniex Augur USD on May 20, 2018 and sell it today you would lose (1,678)  from holding Poloniex Augur USD or give up 32.81% of portfolio value over 30 days.

Pair Corralation between Poloniex Augur and CCEX Asiadigicoin

0.55
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 CCEX Asiadigicoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX Asiadigicoin 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 CCEX Asiadigicoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX Asiadigicoin USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and CCEX Asiadigicoin 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.
CCEX Asiadigicoin USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1152.26

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.