Pair Correlation Between Poloniex Augur and LiveCoin Karbowanec

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

Poloniex

Augur on Poloniex in USD
 30.68 
0.47  1.56%
Market Cap: 21.3 M

LiveCoin

Karbowanec on LiveCoin in USD
 1.28 
0.04  3.23%
Market Cap: 12.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 1.83 times less return on investment than LiveCoin Karbowanec. But when comparing it to its historical volatility, Poloniex Augur USD is 2.18 times less risky than LiveCoin Karbowanec. It trades about 0.27 of its potential returns per unit of risk. LiveCoin Karbowanec USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  54.93  in LiveCoin Karbowanec USD on November 12, 2017 and sell it today you would earn a total of  73.07  from holding LiveCoin Karbowanec USD or generate 133.02% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and LiveCoin Karbowanec
-0.73

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
17 

Risk-Adjusted Performance

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

LiveCoin Karbowanec USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Karbowanec USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.