Pair Correlation Between Kraken Monero and Yobit BuzzCoin

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

Kraken

Monero on Kraken in USD
 268.92 
(30.98)  10.33%
Market Cap: 859.8 M

Yobit

BuzzCoin on Yobit in USD
 0.00105 
(0.000348)  24.89%
Market Cap: 1.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Yobit BuzzCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 4.01 times less risky than Yobit BuzzCoin. The crypto trades about -0.04 of its potential returns per unit of risk. The Yobit BuzzCoin USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  0.03  in Yobit BuzzCoin USD on December 18, 2017 and sell it today you would earn a total of  0.05  from holding Yobit BuzzCoin USD or generate 128.57% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Kraken Monero and Yobit BuzzCoin
0.52

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

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.

Kraken Monero USD

Pair trading matchups for Kraken Monero

Yobit BuzzCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BuzzCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit BuzzCoin USD

Pair trading matchups for Yobit BuzzCoin