Pair Correlation Between Kraken Monero and Yobit X2Coin

This module allows you to analyze existing cross correlation between Kraken Monero USD and Yobit X2Coin USD. You can compare the effects of market volatilities on Kraken Monero and Yobit X2Coin 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 X2Coin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Monero and Yobit X2Coin.
 Time Horizon     30 Days    Login   to change
 Kraken Monero USD  vs   Yobit X2Coin USD


Monero on Kraken in USD
(98.71)  22.95%
Market Cap: 859.8 M


X2Coin on Yobit in USD
0.000149  40.16%
Market Cap: 22.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero is expected to generate 322.55 times less return on investment than Yobit X2Coin. But when comparing it to its historical volatility, Kraken Monero USD is 10.47 times less risky than Yobit X2Coin. It trades about 0.01 of its potential returns per unit of risk. Yobit X2Coin USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  0.05  in Yobit X2Coin USD on December 17, 2017 and sell it today you would earn a total of  0.03  from holding Yobit X2Coin USD or generate 62.04% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Kraken Monero and Yobit X2Coin


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Yobit X2Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit X2Coin 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 X2Coin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit X2Coin USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit X2Coin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

Kraken Monero USD


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 X2Coin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit X2Coin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.