This module allows you to analyze existing cross correlation between Kraken Monero USD and Cexio Ethereum USD. You can compare the effects of market volatilities on Kraken Monero and Cexio Ethereum 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 Monero with a short position of Cexio Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Kraken Monero
and Cexio Ethereum
Kraken Monero USD vs Cexio Ethereum USD
Assuming 30 trading days horizon, Kraken Monero is expected to generate 3.32 times less return on investment than Cexio Ethereum. But when comparing it to its historical volatility, Kraken Monero USD is 1.08 times less risky than Cexio Ethereum. It trades about 0.05 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 88,000 in Cexio Ethereum USD on December 21, 2017 and sell it today you would earn a total of 30,151 from holding Cexio Ethereum USD or generate 34.26% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Cexio Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Ethereum USD and Kraken 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 Kraken Monero USD are associated (or correlated) with Cexio Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Ethereum USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Cexio Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.