Pair Correlation Between Poloniex Augur and Yobit B3

This module allows you to analyze existing cross correlation between Poloniex Augur USD and Yobit B3 Coin USD. You can compare the effects of market volatilities on Poloniex Augur and Yobit B3 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 Yobit B3. See also your portfolio center. Please also check ongoing floating volatility patterns of Poloniex Augur and Yobit B3.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Poloniex Augur USD  vs   Yobit B3 Coin USD

Poloniex

Augur on Poloniex in USD
 31.46 
(0.09)  0.29%
Market Cap: 21.3 M

Yobit

B3 Coin on Yobit in USD
 0.00043 
(0.000036)  7.73%
Market Cap: 45.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 1.23 times less return on investment than Yobit B3. But when comparing it to its historical volatility, Poloniex Augur USD is 3.96 times less risky than Yobit B3. It trades about 0.27 of its potential returns per unit of risk. Yobit B3 Coin USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  0.09  in Yobit B3 Coin USD on November 13, 2017 and sell it today you would lose (0.04)  from holding Yobit B3 Coin USD or give up 45.37% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Yobit B3
-0.22

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and Yobit B3 Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit B3 Coin 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 Yobit B3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit B3 Coin has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Yobit B3 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.

Poloniex Augur USD

Pair trading matchups for Poloniex Augur

Yobit B3 Coin

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit B3 Coin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.