Pair Correlation Between Yobit CannabisCoin and Poloniex Augur

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

Yobit

CannabisCoin on Yobit in USD
 0.083 
0.0031  3.88%
Market Cap: 54.0

Poloniex

Augur on Poloniex in USD
 33.48 
3.27  10.82%
Market Cap: 21.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CannabisCoin USD is expected to generate 74.42 times more return on investment than Poloniex Augur. However, Yobit CannabisCoin is 74.42 times more volatile than Poloniex Augur USD. It trades about 0.19 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.27 per unit of risk. If you would invest  2.86  in Yobit CannabisCoin USD on November 12, 2017 and sell it today you would earn a total of  5.14  from holding Yobit CannabisCoin USD or generate 179.82% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit CannabisCoin and Poloniex Augur
0.8

Parameters

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

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit CannabisCoin 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 CannabisCoin 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 CannabisCoin 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 CannabisCoin i.e. Yobit CannabisCoin and Poloniex Augur go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit CannabisCoin USD

  
12 

Risk-Adjusted Performance

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

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.