Correlation Analysis Between Kraken Bitcoin and Exmo Bitcoin

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

Kraken Bitcoin USD  vs.  Exmo Bitcoin USD

Kraken

Bitcoin on Kraken in USD
 7,543 
124.90  1.68%
Market Cap: 208.7 B
  

Exmo

Bitcoin on Exmo in USD
 7,495 
62.48  0.84%
Market Cap: 27.7 B
 48.00 
0.64% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to generate 1.15 times more return on investment than Exmo Bitcoin. However, Kraken Bitcoin is 1.15 times more volatile than Exmo Bitcoin USD. It trades about 0.23 of its potential returns per unit of risk. Exmo Bitcoin USD is currently generating about 0.22 per unit of risk. If you would invest  614,600  in Kraken Bitcoin USD on June 22, 2018 and sell it today you would earn a total of  136,140  from holding Kraken Bitcoin USD or generate 22.15% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and Exmo Bitcoin

0.99
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Bitcoin USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Bitcoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Kraken Bitcoin USD

Pair trading matchups for Kraken Bitcoin
Exmo Bitcoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin

My Equities

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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