This module allows you to analyze existing cross correlation between Kraken Monero USD and Yobit TekCoin USD. You can compare the effects of market volatilities on Kraken Monero and Yobit TekCoin 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 TekCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Kraken Monero
and Yobit TekCoin
Kraken Monero USD vs Yobit TekCoin USD
Assuming 30 trading days horizon, Kraken Monero USD is expected to under-perform the Yobit TekCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Monero USD is 17.78 times less risky than Yobit TekCoin. The crypto trades about -0.09 of its potential returns per unit of risk. The Yobit TekCoin USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 0.00 in Yobit TekCoin USD on December 20, 2017 and sell it today you would earn a total of 0.02 from holding Yobit TekCoin USD or generate 548.84% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Yobit TekCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit TekCoin 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 TekCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit TekCoin USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit TekCoin go up and down completely randomly.
Over the last 30 days Kraken Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit TekCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.