Pair Correlation Between Poloniex Augur and Kraken ZCash

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

Poloniex

Augur on Poloniex in USD
 34.65 
3.1  9.83%
Market Cap: 21.3 M

Kraken

ZCash on Kraken in USD
 417.77 
10.12  2.48%
Market Cap: 145.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 1.46 times more return on investment than Kraken ZCash. However, Poloniex Augur is 1.46 times more volatile than Kraken ZCash USD. It trades about 0.31 of its potential returns per unit of risk. Kraken ZCash USD is currently generating about 0.27 per unit of risk. If you would invest  1,812  in Poloniex Augur USD on November 13, 2017 and sell it today you would earn a total of  1,699  from holding Poloniex Augur USD or generate 93.76% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Kraken ZCash
0.32

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and Kraken ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken ZCash 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 Kraken ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken ZCash USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Kraken ZCash go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

Kraken ZCash USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken ZCash USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.