Correlation Analysis Between Exmo Monero and EXRATES Dogecoin

This module allows you to analyze existing cross correlation between Exmo Monero USD and EXRATES Dogecoin USD. You can compare the effects of market volatilities on Exmo Monero and EXRATES Dogecoin 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 EXRATES Dogecoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Monero and EXRATES Dogecoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

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 considerably fragile technical indicators, Exmo Monero revealed solid returns over the last few months and may actually be approaching a breakup point.
EXRATES Dogecoin USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, EXRATES Dogecoin is not utilizing all of its potentials. The prevalent stock price agitation, may contribute to short term losses for the management.

Exmo Monero and EXRATES Dogecoin Volatility Contrast

Exmo Monero USD  vs.  EXRATES Dogecoin USD

Exmo

Monero on Exmo in USD

 75.38 
0.60  0.80%
Market Cap: 5.1 M
  

EXRATES

Dogecoin on EXRATES in USD

 0.002512 
0.00  0.00%
Market Cap: 1.7 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  7,478  in Exmo Monero USD on August 18, 2019 and sell it today you would earn a total of  60.00  from holding Exmo Monero USD or generate 0.8% return on investment over 30 days.

Pair Corralation between Exmo Monero and EXRATES Dogecoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Monero and EXRATES Dogecoin

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 EXRATES Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EXRATES Dogecoin USD 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 EXRATES Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXRATES Dogecoin USD has no effect on the direction of Exmo Monero i.e. Exmo Monero and EXRATES Dogecoin go up and down completely randomly.
See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.


 
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