Pair Correlation Between Yobit LeaCoin and Kraken Monero

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

Yobit

LeaCoin on Yobit in USD
 0.0016 
0.0007  77.78%
Market Cap: 8.0

Kraken

Monero on Kraken in USD
 350 
(80.11)  18.63%
Market Cap: 859.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit LeaCoin USD is expected to generate 31.7 times more return on investment than Kraken Monero. However, Yobit LeaCoin is 31.7 times more volatile than Kraken Monero USD. It trades about 0.23 of its potential returns per unit of risk. Kraken Monero USD is currently generating about 0.11 per unit of risk. If you would invest  0.05  in Yobit LeaCoin USD on December 17, 2017 and sell it today you would earn a total of  0.04  from holding Yobit LeaCoin USD or generate 80.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit LeaCoin and Kraken Monero
0.11

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 LeaCoin 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 LeaCoin 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 LeaCoin 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 LeaCoin i.e. Yobit LeaCoin and Kraken Monero go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit LeaCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit LeaCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Kraken Monero USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.