This module allows you to analyze existing cross correlation between Kraken Monero USD and Bitfinex Recovery Right Tokens USD. You can compare the effects of market volatilities on Kraken Monero and Bitfinex Recovery 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 Kraken Monero with a short position of Bitfinex Recovery. See also your portfolio center
. Please also check ongoing floating volatility patterns of Kraken Monero
and Bitfinex Recovery
Kraken Monero USD vs. Bitfinex Recovery Right Tokens
Assuming 30 trading days horizon, Kraken Monero USD is expected to generate 0.56 times more return on investment than Bitfinex Recovery. However, Kraken Monero USD is 1.79 times less risky than Bitfinex Recovery. It trades about 0.14 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.04 per unit of risk. If you would invest 11,000 in Kraken Monero USD on June 21, 2018 and sell it today you would earn a total of 1,834 from holding Kraken Monero USD or generate 16.67% return on investment over 30 days.
Pair Corralation between Kraken Monero and Bitfinex Recovery
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Bitfinex Recovery Right Tokens in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Recovery Right and Kraken Monero 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 Kraken Monero USD are associated (or correlated) with Bitfinex Recovery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Recovery Right has no effect on the direction of Kraken Monero i.e. Kraken Monero and Bitfinex Recovery go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
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