This module allows you to analyze existing cross correlation between Kraken Monero USD and Yobit eMark USD. You can compare the effects of market volatilities on Kraken Monero and Yobit eMark 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 eMark. See also your portfolio center
. Please also check ongoing floating volatility patterns of Kraken Monero
and Yobit eMark
Kraken Monero USD vs Yobit eMark USD
Assuming 30 trading days horizon, Kraken Monero is expected to generate 23.37 times less return on investment than Yobit eMark. But when comparing it to its historical volatility, Kraken Monero USD is 8.55 times less risky than Yobit eMark. It trades about 0.09 of its potential returns per unit of risk. Yobit eMark USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 8.46 in Yobit eMark USD on December 22, 2017 and sell it today you would lose (2.65) from holding Yobit eMark USD or give up 31.4% of portfolio value over 30 days.
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Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Yobit eMark USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit eMark 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 eMark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit eMark USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit eMark 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 5 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit eMark USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.