Correlation Analysis Between Kraken Monero and Yobit Dogecoin

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

Kraken Monero USD  vs.  Yobit Dogecoin USD

Kraken

Monero on Kraken in USD

 43.40 
(4.14)  8.71%
Market Cap: 36.8 M
  

Yobit

Dogecoin on Yobit in USD

 0.002161 
(0.000078)  3.48%
Market Cap: 804
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to generate 1.55 times more return on investment than Yobit Dogecoin. However, Kraken Monero is 1.55 times more volatile than Yobit Dogecoin USD. It trades about -0.24 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about -0.45 per unit of risk. If you would invest  10,150  in Kraken Monero USD on November 11, 2018 and sell it today you would lose (5,810)  from holding Kraken Monero USD or give up 57.24% of portfolio value over 30 days.

Pair Corralation between Kraken Monero and Yobit Dogecoin

0.82
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Kraken Monero USD diversification synergy

Very poor diversification

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

Risk-Adjusted Performance

Over the last 30 days Yobit Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1036.58

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.


 
Search macroaxis.com