This module allows you to analyze existing cross correlation between Exmo Monero USD and Kraken Augur USD. You can compare the effects of market volatilities on Exmo Monero and Kraken Augur 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 Exmo Monero with a short position of Kraken Augur. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Monero and Kraken Augur.
|Horizon||30 Days Login to change|
|Exmo Monero USD|
Over the last 30 days Exmo Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably fragile technical indicators, Exmo Monero revealed solid returns over the last few months and may actually be approaching a breakup point.
|Kraken Augur USD|
Over the last 30 days Kraken Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Exmo Monero and Kraken Augur Volatility Contrast
Exmo Monero USD vs. Kraken Augur USD
Assuming 30 trading days horizon, Exmo Monero USD is expected to generate 2.67 times more return on investment than Kraken Augur. However, Exmo Monero is 2.67 times more volatile than Kraken Augur USD. It trades about 0.71 of its potential returns per unit of risk. Kraken Augur USD is currently generating about -0.71 per unit of risk. If you would invest 7,470 in Exmo Monero USD on August 20, 2019 and sell it today you would earn a total of 133.00 from holding Exmo Monero USD or generate 1.78% return on investment over 30 days.
Pair Corralation between Exmo Monero and Kraken Augur
|Time Period||3 Months [change]|
Diversification Opportunities for Exmo Monero and Kraken Augur
Overlapping area represents the amount of risk that can be diversified away by holding Exmo Monero USD and Kraken Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Augur USD and Exmo Monero 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 Exmo Monero USD are associated (or correlated) with Kraken Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Augur USD has no effect on the direction of Exmo Monero i.e. Exmo Monero and Kraken Augur go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.