Correlation Analysis Between Kraken Monero and Coinbase Bitcoin

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

Kraken Monero USD  vs.  Coinbase Bitcoin USD

Kraken

Monero on Kraken in USD
 0.00 
0.00  0.00%
Market Cap: 43.4 M
  

Coinbase

Bitcoin on Coinbase in USD
 7,434 
77.83  1.06%
Market Cap: 139.3 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  671,472  in Coinbase Bitcoin USD on June 18, 2018 and sell it today you would earn a total of  64,145  from holding Coinbase Bitcoin USD or generate 9.55% return on investment over 30 days.

Pair Corralation between Kraken Monero and Coinbase Bitcoin

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin 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 Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Coinbase Bitcoin go up and down completely randomly.

Comparative Volatility

Kraken Monero USD  
0 

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.
Coinbase Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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