Pair Correlation Between Poloniex Augur and Yobit CoolDarkCoin

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

Poloniex

Augur on Poloniex in USD
 27.83 
2.83  11.32%
Market Cap: 21.3 M

Yobit

CoolDarkCoin on Yobit in USD
 0.039 
0.0358  1,119%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 1.742580123122307E13 times less return on investment than Yobit CoolDarkCoin. But when comparing it to its historical volatility, Poloniex Augur USD is 2.023534502393535E13 times less risky than Yobit CoolDarkCoin. It trades about 0.21 of its potential returns per unit of risk. Yobit CoolDarkCoin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.00  in Yobit CoolDarkCoin USD on November 10, 2017 and sell it today you would earn a total of  3.9  from holding Yobit CoolDarkCoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Yobit CoolDarkCoin
0.52

Parameters

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

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Yobit CoolDarkCoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CoolDarkCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.