Correlation Analysis 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Yobit CannabisCoin USD  vs.  Poloniex Augur USD

Yobit

CannabisCoin on Yobit in USD
 0.0469 
0.0109  30.28%
Market Cap: 1.0
  

Poloniex

Augur on Poloniex in USD
 53.23 
0.29  0.54%
Market Cap: 8.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CannabisCoin is expected to generate 1.02 times less return on investment than Poloniex Augur. In addition to that, Yobit CannabisCoin is 3.53 times more volatile than Poloniex Augur USD. It trades about 0.05 of its total potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.19 per unit of volatility. If you would invest  3,873  in Poloniex Augur USD on April 20, 2018 and sell it today you would earn a total of  1,479  from holding Poloniex Augur USD or generate 38.19% return on investment over 30 days.

Pair Corralation between Yobit CannabisCoin and Poloniex Augur

-0.55
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Excellent 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  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CannabisCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Poloniex Augur USD  
12 

Risk-Adjusted Performance

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

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