Pair Correlation Between Yobit BitCrystal and Kraken Monero

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

Yobit

BitCrystal on Yobit in USD
 0.000398 
0.000088  28.39%
Market Cap: 169

Kraken

Monero on Kraken in USD
 341.77 
(7.18)  2.06%
Market Cap: 810 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal USD is expected to generate 12.67 times more return on investment than Kraken Monero. However, Yobit BitCrystal is 12.67 times more volatile than Kraken Monero USD. It trades about 0.2 of its potential returns per unit of risk. Kraken Monero USD is currently generating about 0.46 per unit of risk. If you would invest  0.1  in Yobit BitCrystal USD on November 17, 2017 and sell it today you would lose (0.07)  from holding Yobit BitCrystal USD or give up 70.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCrystal and Kraken Monero
0.18

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitCrystal USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCrystal USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Kraken Monero USD

  
30 

Risk-Adjusted Performance

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