This module allows you to analyze existing cross correlation between Yobit PandaCoin USD and Poloniex Augur USD. You can compare the effects of market volatilities on Yobit PandaCoin 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 PandaCoin with a short position of Poloniex Augur. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit PandaCoin
and Poloniex Augur
Yobit PandaCoin USD vs Poloniex Augur USD
Assuming 30 trading days horizon, Yobit PandaCoin USD is expected to generate 6.47 times more return on investment than Poloniex Augur. However, Yobit PandaCoin is 6.47 times more volatile than Poloniex Augur USD. It trades about 0.25 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.03 per unit of risk. If you would invest 0.01 in Yobit PandaCoin USD on December 18, 2017 and sell it today you would earn a total of 0.07 from holding Yobit PandaCoin USD or generate 742.21% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit PandaCoin 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 PandaCoin 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 PandaCoin 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 PandaCoin i.e. Yobit PandaCoin and Poloniex Augur go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PandaCoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.