Correlation Analysis Between OKCoin Bitcoin and Kraken Monero

This module allows you to analyze existing cross correlation between OKCoin Bitcoin USD and Kraken Monero USD. You can compare the effects of market volatilities on OKCoin Bitcoin and Kraken Monero 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 OKCoin Bitcoin with a short position of Kraken Monero. See also your portfolio center. Please also check ongoing floating volatility patterns of OKCoin Bitcoin and Kraken Monero.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

OKCoin Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Kraken Monero USD  
0

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.

OKCoin Bitcoin and Kraken Monero Volatility Contrast

 Predicted Return Density 
      Returns 

OKCoin Bitcoin USD  vs.  Kraken Monero USD

OKCoin

Bitcoin on OKCoin in USD

 3,596 
8.49  0.24%
Market Cap: 944.7 M
  

Kraken

Monero on Kraken in USD

 47.03 
1.08  2.35%
Market Cap: 8.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Bitcoin USD is expected to under-perform the Kraken Monero. But the crypto apears to be less risky and, when comparing its historical volatility, OKCoin Bitcoin USD is 1.82 times less risky than Kraken Monero. The crypto trades about -0.1 of its potential returns per unit of risk. The Kraken Monero USD is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  5,476  in Kraken Monero USD on January 18, 2019 and sell it today you would lose (773.00)  from holding Kraken Monero USD or give up 14.12% of portfolio value over 30 days.

Pair Corralation between OKCoin Bitcoin and Kraken Monero

0.41
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy95.12%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and Kraken Monero

OKCoin Bitcoin USD diversification synergy

Very weak diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  

Kraken Monero USD

Pair trading matchups for Kraken Monero

See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.


 
Search macroaxis.com