Correlation Analysis Between Poloniex Augur and LiveCoin NovaCoin

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

Poloniex Augur USD  vs.  LiveCoin NovaCoin USD

Poloniex

Augur on Poloniex in USD

 13.39 
0.41  2.97%
Market Cap: 730.6 K
  

LiveCoin

NovaCoin on LiveCoin in USD

 1.13 
0.07  5.83%
Market Cap: 13.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to under-perform the LiveCoin NovaCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Poloniex Augur USD is 2.97 times less risky than LiveCoin NovaCoin. The crypto trades about -0.18 of its potential returns per unit of risk. The LiveCoin NovaCoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  125.00  in LiveCoin NovaCoin USD on August 23, 2018 and sell it today you would lose (5.00)  from holding LiveCoin NovaCoin USD or give up 4.0% of portfolio value over 30 days.

Pair Corralation between Poloniex Augur and LiveCoin NovaCoin

-0.34
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy73.33%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and LiveCoin NovaCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NovaCoin 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 NovaCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NovaCoin USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and LiveCoin NovaCoin 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.
LiveCoin NovaCoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NovaCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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