Correlation Analysis 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Poloniex Augur USD  vs.  HitBTC Bancor Network Token US

Poloniex

Augur on Poloniex in USD
 41.20 
3.89  8.63%
Market Cap: 7.4 M
  

HitBTC

Bancor Network Token on HitBTC in USD
 3.91 
0.01  0.26%
Market Cap: 1.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 1.43 times more return on investment than HitBTC Bancor. However, Poloniex Augur is 1.43 times more volatile than HitBTC Bancor Network Token USD. It trades about 0.03 of its potential returns per unit of risk. HitBTC Bancor Network Token USD is currently generating about -0.05 per unit of risk. If you would invest  4,100  in Poloniex Augur USD on April 24, 2018 and sell it today you would lose (47.00)  from holding Poloniex Augur USD or give up 1.15% of portfolio value over 30 days.

Pair Corralation between Poloniex Augur and HitBTC Bancor

-0.15
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good 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  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
HitBTC Bancor Network  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Bancor Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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