Pair Correlation Between Kraken Monero and HitBTC Emercoin

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


Monero on Kraken in USD
6.76  2.25%
Market Cap: 859.8 M


Emercoin on HitBTC in USD
(2.04)  26.53%
Market Cap: 1.5 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero is expected to generate 578.12 times less return on investment than HitBTC Emercoin. But when comparing it to its historical volatility, Kraken Monero USD is 20.24 times less risky than HitBTC Emercoin. It trades about 0.01 of its potential returns per unit of risk. HitBTC Emercoin USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  0.00  in HitBTC Emercoin USD on December 17, 2017 and sell it today you would earn a total of  636  from holding HitBTC Emercoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Kraken Monero and HitBTC Emercoin


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Weak diversification

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

Comparative Volatility

 Predicted Return Density 

Kraken Monero USD


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.

HitBTC Emercoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Emercoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.