This module allows you to analyze existing cross correlation between Exmo ZCash USD and Kraken ZCash USD. You can compare the effects of market volatilities on Exmo ZCash and Kraken ZCash 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 ZCash with a short position of Kraken ZCash. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo ZCash and Kraken ZCash.
|Horizon||30 Days Login to change|
|Exmo ZCash USD|
Over the last 30 days Exmo ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
|Kraken ZCash USD|
Over the last 30 days Kraken ZCash 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 ZCash and Kraken ZCash Volatility Contrast
Predicted Return Density
Exmo ZCash USD vs. Kraken ZCash USD
Assuming 30 trading days horizon, Exmo ZCash USD is expected to generate 1.32 times more return on investment than Kraken ZCash. However, Exmo ZCash is 1.32 times more volatile than Kraken ZCash USD. It trades about -0.26 of its potential returns per unit of risk. Kraken ZCash USD is currently generating about -0.38 per unit of risk. If you would invest 10,354 in Exmo ZCash USD on July 25, 2019 and sell it today you would lose (5,240) from holding Exmo ZCash USD or give up 50.61% of portfolio value over 30 days.
Pair Corralation between Exmo ZCash and Kraken ZCash
|Time Period||2 Months [change]|
Diversification Opportunities for Exmo ZCash and Kraken ZCash
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Exmo ZCash USD and Kraken ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken ZCash USD and Exmo ZCash 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 ZCash USD are associated (or correlated) with Kraken ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken ZCash USD has no effect on the direction of Exmo ZCash i.e. Exmo ZCash and Kraken ZCash go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.