Pair Correlation Between Yobit Carboncoin and Kraken Monero

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


Carboncoin on Yobit in USD
(0.00005)  9.71%
Market Cap: 4.5 K


Monero on Kraken in USD
22.8  7.23%
Market Cap: 859.8 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Carboncoin USD is expected to generate 5.09 times more return on investment than Kraken Monero. However, Yobit Carboncoin is 5.09 times more volatile than Kraken Monero USD. It trades about 0.3 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.04 per unit of risk. If you would invest  0.01  in Yobit Carboncoin USD on December 18, 2017 and sell it today you would earn a total of  0.04  from holding Yobit Carboncoin USD or generate 543.75% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Carboncoin and Kraken Monero


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Carboncoin 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 Carboncoin 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 Carboncoin 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 Carboncoin i.e. Yobit Carboncoin and Kraken Monero go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

Yobit Carboncoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Carboncoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

Yobit Carboncoin USD

Pair trading matchups for Yobit Carboncoin

Kraken Monero USD


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.

Kraken Monero USD

Pair trading matchups for Kraken Monero