Pair Correlation Between Yobit Bitcloud and Poloniex Augur

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

Yobit

Bitcloud on Yobit in USD
 0.034 
(0.066)  66%
Market Cap: 23.0

Poloniex

Augur on Poloniex in USD
 42.3 
(0.1)  0.24%
Market Cap: 96.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 15.08 times more return on investment than Poloniex Augur. However, Yobit Bitcloud is 15.08 times more volatile than Poloniex Augur USD. It trades about 0.29 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.34 per unit of risk. If you would invest  2.5  in Yobit Bitcloud USD on November 17, 2017 and sell it today you would earn a total of  0.9  from holding Yobit Bitcloud USD or generate 36.05% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitcloud and Poloniex Augur
-0.05

Parameters

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

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Bitcloud USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

Poloniex Augur USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.