Pair Correlation Between Poloniex Augur and Yobit OrlyCoin

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

Poloniex

Augur on Poloniex in USD
 42.3 
(0.1)  0.24%
Market Cap: 96.5 M

Yobit

OrlyCoin on Yobit in USD
 0.001901 
0.000001  0.0526%
Market Cap: 2.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 21.07 times less return on investment than Yobit OrlyCoin. But when comparing it to its historical volatility, Poloniex Augur USD is 30.29 times less risky than Yobit OrlyCoin. It trades about 0.34 of its potential returns per unit of risk. Yobit OrlyCoin USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  0.17  in Yobit OrlyCoin USD on November 17, 2017 and sell it today you would earn a total of  0.02  from holding Yobit OrlyCoin USD or generate 12.15% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Yobit OrlyCoin
-0.24

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 OrlyCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit OrlyCoin 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 OrlyCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit OrlyCoin USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Yobit OrlyCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
22 

Risk-Adjusted Performance

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.

Yobit OrlyCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit OrlyCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.