Pair Correlation Between Poloniex Augur and Yobit Waves

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.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Poloniex Augur USD  vs   Yobit Waves USD

Poloniex

Augur on Poloniex in USD
 31.99 
0.44  1.39%
Market Cap: 21.3 M

Yobit

Waves on Yobit in USD
 15 
0.97  6.91%
Market Cap: 737.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 1.68 times less return on investment than Yobit Waves. In addition to that, Poloniex Augur is 1.06 times more volatile than Yobit Waves USD. It trades about 0.27 of its total potential returns per unit of risk. Yobit Waves USD is currently generating about 0.48 per unit of volatility. If you would invest  512  in Yobit Waves USD on November 13, 2017 and sell it today you would earn a total of  913  from holding Yobit Waves USD or generate 178.32% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Yobit Waves
0.31

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Weak diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Poloniex Augur USD

Pair trading matchups for Poloniex Augur

Yobit Waves USD

  
31 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Waves USD are ranked lower than 31 (%) of all global equities and portfolios over the last 30 days.