This module allows you to analyze existing cross correlation between Bitfinex Recovery Right Tokens USD and Kraken Monero USD. You can compare the effects of market volatilities on Bitfinex Recovery 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 Bitfinex Recovery with a short position of Kraken Monero. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Recovery and Kraken Monero.
Bitfinex Recovery Right Tokens vs. Kraken Monero USD
Recovery Right Tokens on Bitfinex in USD
Market Cap: 4.6 K
Monero on Kraken in USD
Market Cap: 71.8 M
Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to under-perform the Kraken Monero. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Recovery Right Tokens USD is 1.14 times less risky than Kraken Monero. The crypto trades about -0.09 of its potential returns per unit of risk. The Kraken Monero USD is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 10,317 in Kraken Monero USD on August 27, 2018 and sell it today you would earn a total of 1,045 from holding Kraken Monero USD or generate 10.13% return on investment over 30 days.
Pair Corralation between Bitfinex Recovery and Kraken Monero
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Recovery Right Tokens 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 Bitfinex Recovery 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 Bitfinex Recovery Right Tokens 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 Bitfinex Recovery i.e. Bitfinex Recovery and Kraken Monero go up and down completely randomly.
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