This module allows you to analyze existing cross correlation between Kraken Monero USD and Yobit Dark Moon USD. You can compare the effects of market volatilities on Kraken Monero and Yobit Dark 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 Dark. See also your portfolio center
. Please also check ongoing floating volatility patterns of Kraken Monero
and Yobit Dark
Kraken Monero USD vs Yobit Dark Moon USD
Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Yobit Dark. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 11.23 times less risky than Yobit Dark. The crypto trades about -0.08 of its potential returns per unit of risk. The Yobit Dark Moon USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 0.08 in Yobit Dark Moon USD on February 22, 2018 and sell it today you would earn a total of 0.03 from holding Yobit Dark Moon USD or generate 33.94% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Yobit Dark Moon USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Dark Moon 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 Dark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Dark Moon has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit Dark go up and down completely randomly.
Over the last 30 days Kraken Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dark Moon USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.