Correlation Analysis Between Exmo Monero and Kraken Monero

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

Exmo Monero USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in September 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.
Kraken Monero USD  
00

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. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Exmo Monero and Kraken Monero Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo Monero USD  vs.  Kraken Monero USD

Exmo

Monero on Exmo in USD

 83.18 
0.72  0.87%
Market Cap: 4.4 M
  

Kraken

Monero on Kraken in USD

 81.81 
(0.12)  0.15%
Market Cap: 19 M
 1.37 
1.65% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Monero USD is expected to generate 0.93 times more return on investment than Kraken Monero. However, Exmo Monero USD is 1.08 times less risky than Kraken Monero. It trades about -0.09 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.1 per unit of risk. If you would invest  10,893  in Exmo Monero USD on July 22, 2019 and sell it today you would lose (2,647)  from holding Exmo Monero USD or give up 24.3% of portfolio value over 30 days.

Pair Corralation between Exmo Monero and Kraken Monero

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Monero and Kraken Monero

Exmo Monero USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Monero 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 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 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 Exmo Monero i.e. Exmo Monero and Kraken Monero go up and down completely randomly.
See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.


 
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