Correlation Analysis Between Kraken Monero and Yobit MaxCoin

This module allows you to analyze existing cross correlation between Kraken Monero USD and Yobit MaxCoin USD. You can compare the effects of market volatilities on Kraken Monero and Yobit MaxCoin 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 MaxCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Monero and Yobit MaxCoin.
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 MaxCoin USD  
6

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Kraken Monero and Yobit MaxCoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Monero USD  vs.  Yobit MaxCoin USD

Kraken

Monero on Kraken in USD

 45.52 
(0.13)  0.00%
Market Cap: 4.2 M
  

Yobit

MaxCoin on Yobit in USD

 0.0135 
0.004418  0.49%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Yobit MaxCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 2.0 times less risky than Yobit MaxCoin. The crypto trades about -0.07 of its potential returns per unit of risk. The Yobit MaxCoin USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  1.19  in Yobit MaxCoin USD on December 21, 2018 and sell it today you would earn a total of  0.16  from holding Yobit MaxCoin USD or generate 13.35% return on investment over 30 days.

Pair Corralation between Kraken Monero and Yobit MaxCoin

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Kraken Monero and Yobit MaxCoin

Kraken Monero USD diversification synergy

Pay attention

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

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