Pair Correlation Between Poloniex Augur and Yobit DarkGold

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

Poloniex

Augur on Poloniex in USD
 42.05 
1.45  3.33%
Market Cap: 40.2 M

Yobit

DarkGold on Yobit in USD
 0.34 
0.10  23.41%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to under-perform the Yobit DarkGold. But the crypto apears to be less risky and, when comparing its historical volatility, Poloniex Augur USD is 13.25 times less risky than Yobit DarkGold. The crypto trades about -0.46 of its potential returns per unit of risk. The Yobit DarkGold USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  30.00  in Yobit DarkGold USD on January 23, 2018 and sell it today you would earn a total of  4.00  from holding Yobit DarkGold USD or generate 13.33% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Yobit DarkGold
0.34

Parameters

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

Diversification

Weak diversification

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

Yobit DarkGold USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DarkGold USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.