Correlation Analysis Between Kraken Monero and Yobit DebitCoin

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

Comparative Performance

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.
Yobit DebitCoin USD  
5

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

Kraken Monero and Yobit DebitCoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Monero USD  vs.  Yobit DebitCoin USD

Kraken

Monero on Kraken in USD

 45.32 
0.72  1.61%
Market Cap: 4.2 M
  

Yobit

DebitCoin on Yobit in USD

 0.00204 
0.000715  53.96%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Yobit DebitCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 2.02 times less risky than Yobit DebitCoin. The crypto trades about -0.09 of its potential returns per unit of risk. The Yobit DebitCoin USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  0.23  in Yobit DebitCoin USD on December 17, 2018 and sell it today you would lose (0.03)  from holding Yobit DebitCoin USD or give up 11.76% of portfolio value over 30 days.

Pair Corralation between Kraken Monero and Yobit DebitCoin

0.59
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Kraken Monero and Yobit DebitCoin

Kraken Monero USD diversification synergy

Very weak diversification

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

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