Pair Correlation Between Poloniex Augur and HitBTC Bancor

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

Poloniex

Augur on Poloniex in USD
 30.15 
2.62  9.52%
Market Cap: 21.3 M

HitBTC

Bancor Network Token on HitBTC in USD
 2.79 
(0.01)  0.36%
Market Cap: 1.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 1.54 times more return on investment than HitBTC Bancor. However, Poloniex Augur is 1.54 times more volatile than HitBTC Bancor Network Token USD. It trades about 0.25 of its potential returns per unit of risk. HitBTC Bancor Network Token USD is currently generating about 0.3 per unit of risk. If you would invest  1,801  in Poloniex Augur USD on November 11, 2017 and sell it today you would earn a total of  1,174  from holding Poloniex Augur USD or generate 65.19% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and HitBTC Bancor
0.46

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

HitBTC Bancor Network

  
19 

Risk-Adjusted Performance

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