Pair Correlation Between Poloniex Augur and HitBTC ByteCoin

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

Poloniex

Augur on Poloniex in USD
 36.1 
0.11  0.31%
Market Cap: 21.3 M

HitBTC

ByteCoin on HitBTC in USD
 0.002745 
0.000096  3.62%
Market Cap: 468.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 1.15 times less return on investment than HitBTC ByteCoin. In addition to that, Poloniex Augur is 1.27 times more volatile than HitBTC ByteCoin USD. It trades about 0.29 of its total potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about 0.43 per unit of volatility. If you would invest  0.12  in HitBTC ByteCoin USD on November 14, 2017 and sell it today you would earn a total of  0.14  from holding HitBTC ByteCoin USD or generate 117.85% return on investment over 30 days.

Correlation Coefficient

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

HitBTC ByteCoin USD

  
28 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.

HitBTC ByteCoin USD

Pair trading matchups for HitBTC ByteCoin