Pair Correlation Between Poloniex Augur and Yobit PetroDollar

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

Poloniex

Augur on Poloniex in USD
 42.20 
3.40  7.46%
Market Cap: 40.2 M

Yobit

PetroDollar on Yobit in USD
 0.076 
0.02277  23.05%
Market Cap: 448
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Augur USD is expected to under-perform the Yobit PetroDollar. But the crypto apears to be less risky and, when comparing its historical volatility, Poloniex Augur USD is 8.11 times less risky than Yobit PetroDollar. The crypto trades about -0.4 of its potential returns per unit of risk. The Yobit PetroDollar USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  4.30  in Yobit PetroDollar USD on January 25, 2018 and sell it today you would earn a total of  4.99  from holding Yobit PetroDollar USD or generate 115.95% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Poloniex Augur and Yobit PetroDollar
-0.61

Parameters

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

Diversification

Excellent diversification

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

Poloniex Augur USD

Pair trading matchups for Poloniex Augur

Yobit PetroDollar USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PetroDollar USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit PetroDollar USD

Pair trading matchups for Yobit PetroDollar