Correlation Analysis Between BitTrex Bitcoin and Kraken Ethereum

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

Comparative Performance

BitTrex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days BitTrex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, BitTrex Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Kraken Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Kraken Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Kraken Ethereum is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

BitTrex Bitcoin and Kraken Ethereum Volatility Contrast

BitTrex Bitcoin USD  vs.  Kraken Ethereum USD

BitTrex

Bitcoin on BitTrex in USD

 10,176 
0.00  0.00%
Market Cap: 70.6 B
  

Kraken

Ethereum on Kraken in USD

 212.01 
0.00  0.00%
Market Cap: 994.3 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  21,333  in Kraken Ethereum USD on August 19, 2019 and sell it today you would earn a total of  0.00  from holding Kraken Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between BitTrex Bitcoin and Kraken Ethereum

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

Diversification Opportunities for BitTrex Bitcoin and Kraken Ethereum

BitTrex Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Bitcoin USD and Kraken Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Ethereum USD and BitTrex 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 BitTrex Bitcoin USD are associated (or correlated) with Kraken Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Ethereum USD has no effect on the direction of BitTrex Bitcoin i.e. BitTrex Bitcoin and Kraken Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.


 
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