Correlation Analysis Between Kraken Monero and Gatecoin Litecoin

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

Kraken Monero USD  vs.  Gatecoin Litecoin USD

Kraken

Monero on Kraken in USD
 117.76 
6.48  5.82%
Market Cap: 34 M
  

Gatecoin

Litecoin on Gatecoin in USD
 150.00 
51.00  51.52%
Market Cap: 152
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Gatecoin Litecoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 2.58 times less risky than Gatecoin Litecoin. The crypto trades about -0.27 of its potential returns per unit of risk. The Gatecoin Litecoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  11,500  in Gatecoin Litecoin USD on May 24, 2018 and sell it today you would earn a total of  3,500  from holding Gatecoin Litecoin USD or generate 30.43% return on investment over 30 days.

Pair Corralation between Kraken Monero and Gatecoin Litecoin

0.56
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Gatecoin Litecoin USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Litecoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1169.84

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.