Pair Correlation Between Yobit Ratecoin and Kraken Monero

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

Yobit

Ratecoin on Yobit in USD
 0.007889 
0.001689  27.24%
Market Cap: 12.0

Kraken

Monero on Kraken in USD
 345 
3.7  1.08%
Market Cap: 1.1 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ratecoin USD is expected to generate 22.77 times more return on investment than Kraken Monero. However, Yobit Ratecoin is 22.77 times more volatile than Kraken Monero USD. It trades about 0.22 of its potential returns per unit of risk. Kraken Monero USD is currently generating about 0.05 per unit of risk. If you would invest  0.38  in Yobit Ratecoin USD on December 22, 2017 and sell it today you would earn a total of  0.41  from holding Yobit Ratecoin USD or generate 105.98% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Ratecoin and Kraken Monero
0.27

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Ratecoin USD

  
14 

Risk-Adjusted Performance

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

Yobit Ratecoin USD

Pair trading matchups for Yobit Ratecoin

Kraken Monero USD

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Kraken Monero USD

Pair trading matchups for Kraken Monero