Correlation Analysis 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Poloniex Augur USD  vs.  Yobit Waves USD

Poloniex

Augur on Poloniex in USD
 18.19 
0.51  2.88%
Market Cap: 4.4 M
  

Yobit

Waves on Yobit in USD
 2.14 
0.02  0.93%
Market Cap: 2.8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to under-perform the Yobit Waves. In addition to that, Poloniex Augur is 1.5 times more volatile than Yobit Waves USD. It trades about -0.21 of its total potential returns per unit of risk. Yobit Waves USD is currently generating about -0.22 per unit of volatility. If you would invest  297.00  in Yobit Waves USD on July 20, 2018 and sell it today you would lose (82.00)  from holding Yobit Waves USD or give up 27.61% of portfolio value over 30 days.

Pair Corralation between Poloniex Augur and Yobit Waves

0.56
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very 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  
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 Waves USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Waves USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.