Correlation Analysis Between Cexio Ethereum and Kraken Monero

This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Kraken Monero USD. You can compare the effects of market volatilities on Cexio Ethereum and Kraken Monero 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 Cexio Ethereum with a short position of Kraken Monero. See also your portfolio center. Please also check ongoing floating volatility patterns of Cexio Ethereum and Kraken Monero.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

Cexio Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Kraken Monero USD  
0

Risk-Adjusted Performance

Over the last 30 days Kraken Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Cexio Ethereum and Kraken Monero Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Ethereum USD  vs.  Kraken Monero USD

Cexio

Ethereum on Cexio in USD

 90.86 
5.31  6.21%
Market Cap: 4.4 M
  

Kraken

Monero on Kraken in USD

 41.95 
2.66  6.77%
Market Cap: 20.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to generate 0.69 times more return on investment than Kraken Monero. However, Cexio Ethereum USD is 1.46 times less risky than Kraken Monero. It trades about -0.36 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.27 per unit of risk. If you would invest  20,363  in Cexio Ethereum USD on November 17, 2018 and sell it today you would lose (11,638)  from holding Cexio Ethereum USD or give up 57.15% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and Kraken Monero

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Cexio Ethereum and Kraken Monero

Cexio Ethereum USD diversification synergy

Almost no diversification

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

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