Correlation Analysis Between Yobit ClubCoin and Kraken Monero

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

Comparative Performance

Yobit ClubCoin USD  
5

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
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.

Yobit ClubCoin and Kraken Monero Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit ClubCoin USD  vs.  Kraken Monero USD

Yobit

ClubCoin on Yobit in USD

 0.37 
0.0002  0.05%
Market Cap: 5.0
  

Kraken

Monero on Kraken in USD

 45.51 
0.91  2.04%
Market Cap: 4.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 1.77 times more return on investment than Kraken Monero. However, Yobit ClubCoin is 1.77 times more volatile than Kraken Monero USD. It trades about 0.08 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.09 per unit of risk. If you would invest  33.80  in Yobit ClubCoin USD on December 17, 2018 and sell it today you would earn a total of  2.92  from holding Yobit ClubCoin USD or generate 8.64% return on investment over 30 days.

Pair Corralation between Yobit ClubCoin and Kraken Monero

0.54
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit ClubCoin and Kraken Monero

Yobit  ClubCoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit ClubCoin 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 Yobit ClubCoin 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 Yobit ClubCoin 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 Yobit ClubCoin i.e. Yobit ClubCoin and Kraken Monero go up and down completely randomly.

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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