Pair Correlation Between Kraken Bitcoin and Tidex Bitcoin

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

Kraken

Bitcoin on Kraken in USD
 18,984 
(199.9)  1.04%
Market Cap: 286.6 B
 2,216 
11.67% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Tidex

Bitcoin on Tidex in USD
 16,768 
0.003971  0.00%
Market Cap: 101.4 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  765,000  in Kraken Bitcoin USD on November 17, 2017 and sell it today you would earn a total of  1,163,800  from holding Kraken Bitcoin USD or generate 152.13% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Kraken Bitcoin and Tidex Bitcoin
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy9.68%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Kraken Bitcoin USD

  
30 

Risk-Adjusted Performance

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