This module allows you to analyze existing cross correlation between Kraken Monero USD and Yobit SpaceCoin USD. You can compare the effects of market volatilities on Kraken Monero and Yobit SpaceCoin 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 SpaceCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Monero and Yobit SpaceCoin.
Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Yobit SpaceCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 8.33 times less risky than Yobit SpaceCoin. The crypto trades about -0.35 of its potential returns per unit of risk. The Yobit SpaceCoin USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 0.45 in Yobit SpaceCoin USD on April 22, 2018 and sell it today you would earn a total of 0.01 from holding Yobit SpaceCoin USD or generate 2.4% return on investment over 30 days.
Pair Corralation between Kraken Monero and Yobit SpaceCoin
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Yobit SpaceCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit SpaceCoin 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 SpaceCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit SpaceCoin USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit SpaceCoin go up and down completely randomly.
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