Correlation Analysis Between Kraken Bitcoin and Yobit Bitcoin

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

Kraken Bitcoin USD  vs.  Yobit Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 5,465 
23.40  0.43%
Market Cap: 4.2 B
  

Yobit

Bitcoin on Yobit in USD

 5,929 
1.00  0.0169%
Market Cap: 4.8 B
(464.00)
8.49% 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 Yobit Bitcoin. In addition to that, Kraken Bitcoin is 1.86 times more volatile than Yobit Bitcoin USD. It trades about -0.27 of its total potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.43 per unit of volatility. If you would invest  673,296  in Yobit Bitcoin USD on October 18, 2018 and sell it today you would lose (80,296)  from holding Yobit Bitcoin USD or give up 11.93% of portfolio value over 30 days.

Pair Corralation between Kraken Bitcoin and Yobit Bitcoin

0.88
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Kraken Bitcoin USD diversification synergy

Very poor diversification

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

Risk-Adjusted Performance

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

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