Correlation Analysis Between Kraken Bitcoin and Bitstamp Bitcoin

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

Comparative Performance

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.
Bitstamp Bitcoin USD  
0

Risk-Adjusted Performance

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

Kraken Bitcoin and Bitstamp Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Bitcoin USD  vs.  Bitstamp Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 3,420 
71.80  2.14%
Market Cap: 71.2 B
  

Bitstamp

Bitcoin on Bitstamp in USD

 3,258 
(3.64)  0.11%
Market Cap: 121.4 B
 161.90 
4.73% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to generate 1.28 times more return on investment than Bitstamp Bitcoin. However, Kraken Bitcoin is 1.28 times more volatile than Bitstamp Bitcoin USD. It trades about -0.28 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about -0.41 per unit of risk. If you would invest  642,820  in Kraken Bitcoin USD on November 13, 2018 and sell it today you would lose (300,830)  from holding Kraken Bitcoin USD or give up 46.8% of portfolio value over 30 days.

Pair Corralation between Kraken Bitcoin and Bitstamp Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Kraken Bitcoin and Bitstamp Bitcoin

Kraken Bitcoin USD diversification synergy

No risk reduction

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

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 Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
Search macroaxis.com