Correlation Analysis 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Poloniex Augur USD  vs.  Kraken ZCash USD

Poloniex

Augur on Poloniex in USD
 17.59 
0.47  2.75%
Market Cap: 4.4 M
  

Kraken

ZCash on Kraken in USD
 144.78 
2.34  1.64%
Market Cap: 33 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to under-perform the Kraken ZCash. In addition to that, Poloniex Augur is 1.16 times more volatile than Kraken ZCash USD. It trades about -0.24 of its total potential returns per unit of risk. Kraken ZCash USD is currently generating about -0.17 per unit of volatility. If you would invest  20,050  in Kraken ZCash USD on July 18, 2018 and sell it today you would lose (5,806)  from holding Kraken ZCash USD or give up 28.96% of portfolio value over 30 days.

Pair Corralation between Poloniex Augur and Kraken ZCash

0.93
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no 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  
0 

Risk-Adjusted Performance

Over the last 30 days Poloniex Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Kraken ZCash USD  
0 

Risk-Adjusted Performance

Over the last 30 days Kraken ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.