Pair Correlation Between Poloniex Augur and LiveCoin CapriCoin

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

Poloniex

Augur on Poloniex in USD
 43.00 
0.15  0.35%
Market Cap: 5 M

LiveCoin

CapriCoin on LiveCoin in USD
 0.47 
0.0549  10.37%
Market Cap: 1.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to under-perform the LiveCoin CapriCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Poloniex Augur USD is 5.64 times less risky than LiveCoin CapriCoin. The crypto trades about -0.42 of its potential returns per unit of risk. The LiveCoin CapriCoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  94.15  in LiveCoin CapriCoin USD on January 26, 2018 and sell it today you would lose (41.20)  from holding LiveCoin CapriCoin USD or give up 43.76% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and LiveCoin CapriCoin
0.29

Parameters

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

Diversification

Modest diversification

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

Poloniex Augur USD

Pair trading matchups for Poloniex Augur

LiveCoin CapriCoin USD

  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

LiveCoin CapriCoin USD

Pair trading matchups for LiveCoin CapriCoin