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
Over the last 30 days Kraken Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Reddcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Kraken Monero and Yobit Reddcoin Volatility Contrast
Kraken Monero USD vs. Yobit Reddcoin USD
Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Yobit Reddcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 1.25 times less risky than Yobit Reddcoin. The crypto trades about -0.09 of its potential returns per unit of risk. The Yobit Reddcoin USD is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 0.15 in Yobit Reddcoin USD on December 17, 2018 and sell it today you would lose (0.02) from holding Yobit Reddcoin USD or give up 14.47% of portfolio value over 30 days.
Pair Corralation between Kraken Monero and Yobit Reddcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Kraken Monero and Yobit Reddcoin
Very poor 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.