Correlation Analysis Between Bitstamp Bitcoin and Kraken Bitcoin

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

Bitstamp Bitcoin USD  vs.  Kraken Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 6,402 
43.26  0.67%
Market Cap: 112.1 B
  

Kraken

Bitcoin on Kraken in USD

 6,395 
41.60  0.65%
Market Cap: 19.8 B
 6.11 
0.1% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to generate 0.86 times more return on investment than Kraken Bitcoin. However, Bitstamp Bitcoin USD is 1.17 times less risky than Kraken Bitcoin. It trades about 0.02 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about 0.0 per unit of risk. If you would invest  639,299  in Bitstamp Bitcoin USD on September 18, 2018 and sell it today you would earn a total of  4,139  from holding Bitstamp Bitcoin USD or generate 0.65% return on investment over 30 days.

Pair Corralation between Bitstamp Bitcoin and Kraken Bitcoin

0.96
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Bitcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Kraken Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Kraken Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1092.25

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
Search macroaxis.com