Correlation Analysis Between Yobit MaxCoin and Kraken Monero

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

Comparative Performance

Yobit MaxCoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
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 MaxCoin and Kraken Monero Volatility Contrast

 Predicted Return Density 

Yobit MaxCoin USD  vs.  Kraken Monero USD


MaxCoin on Yobit in USD

0.00283  0.23%
Market Cap: 2.0


Monero on Kraken in USD

(0.54)  0.01%
Market Cap: 4.8 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to generate 2.19 times more return on investment than Kraken Monero. However, Yobit MaxCoin is 2.19 times more volatile than Kraken Monero USD. It trades about 0.16 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.01 per unit of risk. If you would invest  0.87  in Yobit MaxCoin USD on December 24, 2018 and sell it today you would earn a total of  0.62  from holding Yobit MaxCoin USD or generate 71.25% return on investment over 30 days.

Pair Corralation between Yobit MaxCoin and Kraken Monero

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Yobit MaxCoin and Kraken Monero

Yobit MaxCoin USD diversification synergy

Good diversification

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

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