Pair Correlation Between Yobit TekCoin and Poloniex Augur

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

Yobit

TekCoin on Yobit in USD
 0.00037 
0.000091  32.62%
Market Cap: 243

Poloniex

Augur on Poloniex in USD
 75.21 
(1.29)  1.69%
Market Cap: 50.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit TekCoin USD is expected to generate 13.94 times more return on investment than Poloniex Augur. However, Yobit TekCoin is 13.94 times more volatile than Poloniex Augur USD. It trades about 0.22 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.01 per unit of risk. If you would invest  0.00  in Yobit TekCoin USD on December 20, 2017 and sell it today you would earn a total of  0.03  from holding Yobit TekCoin USD or generate 760.47% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit TekCoin and Poloniex Augur
0.55

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit TekCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit TekCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit TekCoin USD

Pair trading matchups for Yobit TekCoin

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