Pair Correlation Between HitBTC Autumncoin and Kraken Monero

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

HitBTC

Autumncoin on HitBTC in USD
 0.0159 
(0.0038)  19.29%
Market Cap: 10.8 K

Kraken

Monero on Kraken in USD
 304.32 
(4.81)  1.56%
Market Cap: 810 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 4.99 times less return on investment than Kraken Monero. In addition to that, HitBTC Autumncoin is 3.29 times more volatile than Kraken Monero USD. It trades about 0.03 of its total potential returns per unit of risk. Kraken Monero USD is currently generating about 0.46 per unit of volatility. If you would invest  11,974  in Kraken Monero USD on November 15, 2017 and sell it today you would earn a total of  18,426  from holding Kraken Monero USD or generate 153.88% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and Kraken Monero
-0.05

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

Kraken Monero USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.