Correlation Analysis Between Gatecoin Litecoin and Kraken Monero

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

Gatecoin Litecoin USD  vs.  Kraken Monero USD

Gatecoin

Litecoin on Gatecoin in USD
 98.00 
1.50  1.51%
Market Cap: 152
  

Kraken

Monero on Kraken in USD
 124.00 
0.73  0.59%
Market Cap: 34 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Litecoin USD is expected to generate 1.57 times more return on investment than Kraken Monero. However, Gatecoin Litecoin is 1.57 times more volatile than Kraken Monero USD. It trades about -0.12 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.25 per unit of risk. If you would invest  13,200  in Gatecoin Litecoin USD on May 22, 2018 and sell it today you would lose (3,250)  from holding Gatecoin Litecoin USD or give up 24.62% of portfolio value over 30 days.

Pair Corralation between Gatecoin Litecoin and Kraken Monero

0.78
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gatecoin Litecoin 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 Gatecoin Litecoin 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 Gatecoin Litecoin 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 Gatecoin Litecoin i.e. Gatecoin Litecoin and Kraken Monero go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Gatecoin Litecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Gatecoin Litecoin 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.

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See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.