Correlation Analysis Between Kraken Ethereum and Bitforex Ethereum

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

Kraken Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Kraken Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Bitforex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitforex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitforex Ethereum is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Kraken Ethereum and Bitforex Ethereum Volatility Contrast

Kraken Ethereum USD  vs.  Bitforex Ethereum USD

Kraken

Ethereum on Kraken in USD

 194.79 
9.16  4.93%
Market Cap: 1.4 B
  

Bitforex

Ethereum on Bitforex in USD

 184.73 
0.00  0.00%
Market Cap: 10.4 M
 10.06 
5.16% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  18,473  in Bitforex Ethereum USD on July 19, 2019 and sell it today you would earn a total of  0.00  from holding Bitforex Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Kraken Ethereum and Bitforex Ethereum

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.27%
ValuesDaily Returns

Diversification Opportunities for Kraken Ethereum and Bitforex Ethereum

Kraken Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Ethereum USD and Bitforex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitforex Ethereum USD and Kraken Ethereum 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 Ethereum USD are associated (or correlated) with Bitforex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitforex Ethereum USD has no effect on the direction of Kraken Ethereum i.e. Kraken Ethereum and Bitforex Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.


 
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