This module allows you to analyze existing cross correlation between Poloniex Augur USD and LiveCoin NEM USD. You can compare the effects of market volatilities on Poloniex Augur and LiveCoin NEM 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 NEM. See also your portfolio center
. Please also check ongoing floating volatility patterns of Poloniex Augur
and LiveCoin NEM
Poloniex Augur USD vs LiveCoin NEM USD
Assuming 30 trading days horizon, Poloniex Augur is expected to generate 1.69 times less return on investment than LiveCoin NEM. But when comparing it to its historical volatility, Poloniex Augur USD is 2.1 times less risky than LiveCoin NEM. It trades about 0.34 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest 21 in LiveCoin NEM USD on November 17, 2017 and sell it today you would earn a total of 45.2 from holding LiveCoin NEM USD or generate 215.24% return on investment over 30 days.
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Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and LiveCoin NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NEM 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 NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NEM USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and LiveCoin NEM go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.