Pair Correlation Between Poloniex Augur and Cexio Ethereum

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

Poloniex

Augur on Poloniex in USD
 36.47 
4.92  15.59%
Market Cap: 21.3 M

Cexio

Ethereum on Cexio in USD
 770.99 
128.32  19.97%
Market Cap: 1.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 1.48 times less return on investment than Cexio Ethereum. In addition to that, Poloniex Augur is 1.2 times more volatile than Cexio Ethereum USD. It trades about 0.25 of its total potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.45 per unit of volatility. If you would invest  34,200  in Cexio Ethereum USD on November 14, 2017 and sell it today you would earn a total of  42,899  from holding Cexio Ethereum USD or generate 125.44% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Cexio Ethereum
0.48

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.