This module allows you to analyze existing cross correlation between Poloniex Augur USD and Yobit Waves USD. You can compare the effects of market volatilities on Poloniex Augur and Yobit Waves 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 Waves. See also your portfolio center. Please also check ongoing floating volatility patterns of Poloniex Augur and Yobit Waves.
Assuming 30 trading days horizon, Poloniex Augur USD is expected to generate 0.99 times more return on investment than Yobit Waves. However, Poloniex Augur USD is 1.01 times less risky than Yobit Waves. It trades about 0.03 of its potential returns per unit of risk. Yobit Waves USD is currently generating about -0.02 per unit of risk. If you would invest 4,100 in Poloniex Augur USD on April 24, 2018 and sell it today you would lose (47.00) from holding Poloniex Augur USD or give up 1.15% of portfolio value over 30 days.
Pair Corralation between Poloniex Augur and Yobit Waves
Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and Yobit Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Waves 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 Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Waves USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Yobit Waves go up and down completely randomly.
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