Pair Correlation Between Kraken Monero and Yobit Golem

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

Kraken Monero USD  vs.  Yobit Golem Network Token USD

Kraken

Monero on Kraken in USD
 252.00 
0.17  0.0675%
Market Cap: 265.9 M
  

Yobit

Golem Network Token on Yobit in USD
 0.47 
0.004  0.86%
Market Cap: 105
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero is expected to generate 51.38 times less return on investment than Yobit Golem. But when comparing it to its historical volatility, Kraken Monero USD is 2.87 times less risky than Yobit Golem. It trades about 0.01 of its potential returns per unit of risk. Yobit Golem Network Token USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  31.20  in Yobit Golem Network Token USD on March 23, 2018 and sell it today you would earn a total of  15.80  from holding Yobit Golem Network Token USD or generate 50.64% return on investment over 30 days.

Pair Corralation between Kraken Monero and Yobit Golem

0.43
Time Period2 Months [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 Yobit Golem Network Token USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Golem Network 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 Golem. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Golem Network has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit Golem 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.
Yobit Golem Network  
7 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1087.7

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.