Correlation Analysis Between Kraken Bitcoin and Cexio Bitcoin

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

Kraken Bitcoin USD  vs.  Cexio Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 6,401 
11.30  0.18%
Market Cap: 3.6 B
  

Cexio

Bitcoin on Cexio in USD

 6,529 
29.80  0.45%
Market Cap: 3.6 B
(128.10)
2.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to under-perform the Cexio Bitcoin. In addition to that, Kraken Bitcoin is 1.16 times more volatile than Cexio Bitcoin USD. It trades about -0.01 of its total potential returns per unit of risk. Cexio Bitcoin USD is currently generating about 0.05 per unit of volatility. If you would invest  644,300  in Cexio Bitcoin USD on September 23, 2018 and sell it today you would earn a total of  8,750  from holding Cexio Bitcoin USD or generate 1.36% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and Cexio Bitcoin

0.26
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Cexio Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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