Correlation Analysis Between Kraken Dash and Exmo Dash

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

Kraken Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days Kraken Dash 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 Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Dash 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.

Kraken Dash and Exmo Dash Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Dash USD  vs.  Exmo Dash USD

Kraken

Dash on Kraken in USD

 91.87 
0.48  0.53%
Market Cap: 1.5 M
  

Exmo

Dash on Exmo in USD

 94.40 
(0.99)  1.04%
Market Cap: 1.7 M
(2.53)
2.75% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Dash USD is expected to under-perform the Exmo Dash. In addition to that, Kraken Dash is 1.03 times more volatile than Exmo Dash USD. It trades about -0.22 of its total potential returns per unit of risk. Exmo Dash USD is currently generating about -0.21 per unit of volatility. If you would invest  16,905  in Exmo Dash USD on July 25, 2019 and sell it today you would lose (7,610)  from holding Exmo Dash USD or give up 45.02% of portfolio value over 30 days.

Pair Corralation between Kraken Dash and Exmo Dash

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Kraken Dash and Exmo Dash

Kraken Dash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Dash USD and Exmo Dash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo Dash USD and Kraken Dash 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 Kraken Dash USD are associated (or correlated) with Exmo Dash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Dash USD has no effect on the direction of Kraken Dash i.e. Kraken Dash and Exmo Dash go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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