Pair Correlation Between Kraken Monero and Yobit Reddcoin

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

Kraken Monero USD  vs.  Yobit Reddcoin USD

Kraken

Monero on Kraken in USD
 293.49 
5.11  1.77%
Market Cap: 265.9 M
  

Yobit

Reddcoin on Yobit in USD
 0.007997 
0.000103  1.27%
Market Cap: 1.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to generate 0.78 times more return on investment than Yobit Reddcoin. However, Kraken Monero USD is 1.28 times less risky than Yobit Reddcoin. It trades about 0.06 of its potential returns per unit of risk. Yobit Reddcoin USD is currently generating about 0.0 per unit of risk. If you would invest  26,224  in Kraken Monero USD on March 25, 2018 and sell it today you would earn a total of  2,790  from holding Kraken Monero USD or generate 10.64% return on investment over 30 days.

Pair Corralation between Kraken Monero and Yobit Reddcoin

0.9
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Monero USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Yobit Reddcoin USD  
0 

Risk-Adjusted Performance

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

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