This module allows you to analyze existing cross correlation between Kraken Bitcoin USD and Coinroom Bitcoin USD. You can compare the effects of market volatilities on Kraken Bitcoin and Coinroom 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 Coinroom Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Kraken Bitcoin
and Coinroom Bitcoin
Kraken Bitcoin USD vs. Coinroom Bitcoin USD
Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to generate 3.21 times more return on investment than Coinroom Bitcoin. However, Kraken Bitcoin is 3.21 times more volatile than Coinroom Bitcoin USD. It trades about 0.06 of its potential returns per unit of risk. Coinroom Bitcoin USD is currently generating about -0.02 per unit of risk. If you would invest 636,700 in Kraken Bitcoin USD on September 21, 2018 and sell it today you would earn a total of 0.00 from holding Kraken Bitcoin USD or generate 0.0% return on investment over 30 days.
Pair Corralation between Kraken Bitcoin and Coinroom Bitcoin
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Bitcoin USD and Coinroom Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom 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 Coinroom Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom Bitcoin USD has no effect on the direction of Kraken Bitcoin i.e. Kraken Bitcoin and Coinroom Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Coinroom Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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