By analyzing existing cross correlation between Bitcoin and Monero, you Monero is Overlapping area represents market volatilities on Bitcoin and can be diversified away by will diversify away market risk if combined in the bticoin portfolio for a given time.
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Such asymmetric shift in the magnitude of returns across two regimes justifies our application of non-linear wavelets decomposed into different frequencies ranging from short- to long-run. Empirical RWCC results indicate mostly positive co-movements and long-term memory between the cryptocurrencies, especially between Bitcoin, Ethereum, and Monero. A test for independence based on a correlationdimension.
