Correlation Analysis Between Coinsbit Ethereum and Kraken Ethereum

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

Comparative Performance

Coinsbit Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
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 weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Coinsbit Ethereum and Kraken Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Ethereum USD  vs.  Kraken Ethereum USD

Coinsbit

Ethereum on Coinsbit in USD

 196.61 
4.13  2.15%
Market Cap: 2.5 B
  

Kraken

Ethereum on Kraken in USD

 186.77 
(6.34)  3.28%
Market Cap: 1.6 B
 9.84 
5.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Ethereum USD is expected to generate 1.27 times more return on investment than Kraken Ethereum. However, Coinsbit Ethereum is 1.27 times more volatile than Kraken Ethereum USD. It trades about -0.12 of its potential returns per unit of risk. Kraken Ethereum USD is currently generating about -0.17 per unit of risk. If you would invest  33,954  in Coinsbit Ethereum USD on July 25, 2019 and sell it today you would lose (14,706)  from holding Coinsbit Ethereum USD or give up 43.31% of portfolio value over 30 days.

Pair Corralation between Coinsbit Ethereum and Kraken Ethereum

0.91
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Ethereum and Kraken Ethereum

Coinsbit Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinsbit Ethereum 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 Coinsbit Ethereum 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 Coinsbit Ethereum 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 Coinsbit Ethereum i.e. Coinsbit Ethereum and Kraken Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.


 
Search macroaxis.com