Correlation Analysis Between Exmo Monero and Bitfinex Golem

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

Exmo Monero USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in October 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.
Bitfinex Golem Network  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Golem Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Exmo Monero and Bitfinex Golem Volatility Contrast

Exmo Monero USD  vs.  Bitfinex Golem Network Token U

Exmo

Monero on Exmo in USD

 73.83 
(2.73)  3.57%
Market Cap: 5.1 M
  

Bitfinex

Golem Network Token on Bitfinex in USD

 0.06 
(0.000254)  0.45%
Market Cap: 276
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Monero USD is expected to under-perform the Bitfinex Golem. In addition to that, Exmo Monero is 7.97 times more volatile than Bitfinex Golem Network Token USD. It trades about -0.71 of its total potential returns per unit of risk. Bitfinex Golem Network Token USD is currently generating about -0.71 per unit of volatility. If you would invest  5.68  in Bitfinex Golem Network Token USD on August 17, 2019 and sell it today you would lose (0.03)  from holding Bitfinex Golem Network Token USD or give up 0.45% of portfolio value over 30 days.

Pair Corralation between Exmo Monero and Bitfinex Golem

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Monero and Bitfinex Golem

Exmo Monero USD diversification synergy

Pay attention

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