Correlation Analysis Between Kraken Monero and Yobit Namecoin

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

Kraken Monero USD  vs.  Yobit Namecoin USD


Monero on Kraken in USD
9.61  7.80%
Market Cap: 33.5 M


Namecoin on Yobit in USD
0.31  24.60%
Market Cap: 211
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero USD is expected to generate 0.52 times more return on investment than Yobit Namecoin. However, Kraken Monero USD is 1.91 times less risky than Yobit Namecoin. It trades about 0.03 of its potential returns per unit of risk. Yobit Namecoin USD is currently generating about -0.01 per unit of risk. If you would invest  12,653  in Kraken Monero USD on June 16, 2018 and sell it today you would lose (2.00)  from holding Kraken Monero USD or give up 0.02% of portfolio value over 30 days.

Pair Corralation between Kraken Monero and Yobit Namecoin

Time Period1 Month [change]
ValuesDaily Returns


Very good diversification

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

Comparative Volatility

 Predicted Return Density 
Kraken Monero USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Yobit Namecoin USD  

Risk-Adjusted Performance

Over the last 30 days Yobit Namecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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