This module allows you to analyze existing cross correlation between Yobit Waves USD and Kraken Monero USD. You can compare the effects of market volatilities on Yobit Waves 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 Waves with a short position of Kraken Monero. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Waves
and Kraken Monero
Yobit Waves USD vs. Kraken Monero USD
Assuming 30 trading days horizon, Yobit Waves USD is expected to under-perform the Kraken Monero. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Waves USD is 1.25 times less risky than Kraken Monero. The crypto trades about -0.19 of its potential returns per unit of risk. The Kraken Monero USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 12,653 in Kraken Monero USD on June 17, 2018 and sell it today you would earn a total of 1,093 from holding Kraken Monero USD or generate 8.64% return on investment over 30 days.
Pair Corralation between Yobit Waves and Kraken Monero
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Waves 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 Waves 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 Waves 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 Waves i.e. Yobit Waves and Kraken Monero go up and down completely randomly.
Over the last 30 days Yobit Waves 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 Kraken Monero USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
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