Pair Correlation Between Poloniex Augur and Yobit Dnotes

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

Poloniex Augur USD  vs.  Yobit Dnotes USD

Poloniex

Augur on Poloniex in USD
 38.52 
0.18  0.47%
Market Cap: 14.4 M
  

Yobit

Dnotes on Yobit in USD
 0.029 
0.0069  31.22%
Market Cap: 9.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 72.25 times less return on investment than Yobit Dnotes. But when comparing it to its historical volatility, Poloniex Augur USD is 4.07 times less risky than Yobit Dnotes. It trades about 0.01 of its potential returns per unit of risk. Yobit Dnotes USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  2.00  in Yobit Dnotes USD on March 23, 2018 and sell it today you would earn a total of  0.90  from holding Yobit Dnotes USD or generate 45.0% return on investment over 30 days.

Pair Corralation between Poloniex Augur and Yobit Dnotes

0.7
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy98.36%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and Yobit Dnotes USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Dnotes 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 Dnotes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Dnotes USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Yobit Dnotes 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 Dnotes USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dnotes USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.