Pair Correlation Between Poloniex Augur and Yobit X2Coin

This module allows you to analyze existing cross correlation between Poloniex Augur USD and Yobit X2Coin USD. You can compare the effects of market volatilities on Poloniex Augur and Yobit X2Coin 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 X2Coin. See also your portfolio center. Please also check ongoing floating volatility patterns of Poloniex Augur and Yobit X2Coin.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Poloniex Augur USD  vs   Yobit X2Coin USD

Poloniex

Augur on Poloniex in USD
 56.42 
(2.49)  4.23%
Market Cap: 183.8 M

Yobit

X2Coin on Yobit in USD
 0.0003725 
(0.0001475)  28.37%
Market Cap: 22.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur is expected to generate 24.97 times less return on investment than Yobit X2Coin. But when comparing it to its historical volatility, Poloniex Augur USD is 7.1 times less risky than Yobit X2Coin. It trades about 0.06 of its potential returns per unit of risk. Yobit X2Coin USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  0.03  in Yobit X2Coin USD on December 18, 2017 and sell it today you would earn a total of  0.02  from holding Yobit X2Coin USD or generate 73.33% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Yobit X2Coin
0.26

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Poloniex Augur USD and Yobit X2Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit X2Coin 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 X2Coin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit X2Coin USD has no effect on the direction of Poloniex Augur i.e. Poloniex Augur and Yobit X2Coin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Poloniex Augur USD

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Poloniex Augur USD

Pair trading matchups for Poloniex Augur

Yobit X2Coin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit X2Coin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Yobit X2Coin USD

Pair trading matchups for Yobit X2Coin