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This module allows you to analyze existing cross correlation between Kraken Monero USD and Yobit CannabisCoin USD. You can compare the effects of market volatilities on Kraken Monero and Yobit CannabisCoin 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 Yobit CannabisCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Monero and Yobit CannabisCoin.
|Horizon||30 Days Login to change|
|Kraken Monero USD|
Kraken Monero and Yobit CannabisCoin Volatility Contrast
Predicted Return Density
Kraken Monero USD vs. Yobit CannabisCoin USD
Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Yobit CannabisCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 2.65 times less risky than Yobit CannabisCoin. The crypto trades about -0.28 of its potential returns per unit of risk. The Yobit CannabisCoin USD is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 1.67 in Yobit CannabisCoin USD on November 15, 2018 and sell it today you would lose (0.94) from holding Yobit CannabisCoin USD or give up 56.09% of portfolio value over 30 days.
Pair Corralation between Kraken Monero and Yobit CannabisCoin
|Time Period||2 Months [change]|
Diversification Opportunities for Kraken Monero and Yobit CannabisCoin
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Yobit CannabisCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit CannabisCoin 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 Yobit CannabisCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit CannabisCoin USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit CannabisCoin go up and down completely randomly.