Correlation Analysis Between Yobit Namecoin and Kraken Monero

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

Yobit Namecoin USD  vs.  Kraken Monero USD

Yobit

Namecoin on Yobit in USD
 0.97 
0.0138  1.45%
Market Cap: 211
  

Kraken

Monero on Kraken in USD
 143.29 
1.52  1.05%
Market Cap: 43.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Namecoin USD is expected to under-perform the Kraken Monero. In addition to that, Yobit Namecoin is 1.76 times more volatile than Kraken Monero USD. It trades about -0.05 of its total potential returns per unit of risk. Kraken Monero USD is currently generating about 0.12 per unit of volatility. If you would invest  12,653  in Kraken Monero USD on June 18, 2018 and sell it today you would earn a total of  1,697  from holding Kraken Monero USD or generate 13.41% return on investment over 30 days.

Pair Corralation between Yobit Namecoin and Kraken Monero

-0.44
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy95.65%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Namecoin USD  
0 

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.
Kraken Monero USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Monero USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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ExchangeNASDAQ
$1195.88

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