Correlation Analysis Between Coinbase Augur and Bitfinex Golem

This module allows you to analyze existing cross correlation between Coinbase Augur USD and Bitfinex Golem Network Token USD. You can compare the effects of market volatilities on Coinbase Augur and Bitfinex Golem 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 Coinbase Augur with a short position of Bitfinex Golem. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinbase Augur and Bitfinex Golem.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Coinbase Augur USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinbase Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively fragile forward-looking signals, Coinbase Augur reported solid returns over the last few months and may actually be approaching a breakup point.
Bitfinex Golem Network  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Golem Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Golem is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

Coinbase Augur and Bitfinex Golem Volatility Contrast

Coinbase Augur USD  vs.  Bitfinex Golem Network Token U

Coinbase

Augur on Coinbase in USD

 10.89 
0.00  0.00%
Market Cap: 1.5 M
  

Bitfinex

Golem Network Token on Bitfinex in USD

 0.06 
0.00  0.00%
Market Cap: 276
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,066  in Coinbase Augur USD on August 21, 2019 and sell it today you would earn a total of  11.00  from holding Coinbase Augur USD or generate 1.03% return on investment over 30 days.

Pair Corralation between Coinbase Augur and Bitfinex Golem

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for Coinbase Augur and Bitfinex Golem

Coinbase Augur USD diversification synergy

Pay attention

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