Correlation Analysis Between Kraken Monero and Yobit CometCoin

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

Kraken Monero USD  vs.  Yobit CometCoin USD

Kraken

Monero on Kraken in USD
 129.09 
1.29  1.01%
Market Cap: 43.4 M
  

Yobit

CometCoin on Yobit in USD
 0.07 
0.00027  0.40%
Market Cap: 10.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero is expected to generate 1.86 times less return on investment than Yobit CometCoin. But when comparing it to its historical volatility, Kraken Monero USD is 1.2 times less risky than Yobit CometCoin. It trades about 0.14 of its potential returns per unit of risk. Yobit CometCoin USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  5.00  in Yobit CometCoin USD on June 21, 2018 and sell it today you would earn a total of  1.82  from holding Yobit CometCoin USD or generate 36.39% return on investment over 30 days.

Pair Corralation between Kraken Monero and Yobit CometCoin

0.48
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 CometCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit CometCoin 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 CometCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit CometCoin USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit CometCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Monero USD  
9 

Risk-Adjusted Performance

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.
Yobit CometCoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CometCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

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Alphabet
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