Correlation Analysis Between Kraken Ethereum and Poloniex Ethereum

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

Kraken Ethereum USD  vs.  Poloniex Ethereum USD

Kraken

Ethereum on Kraken in USD

 220.27 
1.66  0.75%
Market Cap: 3.9 B
  

Poloniex

Ethereum on Poloniex in USD

 242.49 
18.62  8.32%
Market Cap: 812.8 M
(22.22)
10.09% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Ethereum USD is expected to under-perform the Poloniex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Ethereum USD is 1.06 times less risky than Poloniex Ethereum. The crypto trades about -0.13 of its potential returns per unit of risk. The Poloniex Ethereum USD is currently generating about -0.11 of returns per unit of risk over similar time horizon. If you would invest  28,414  in Poloniex Ethereum USD on August 26, 2018 and sell it today you would lose (6,027)  from holding Poloniex Ethereum USD or give up 21.21% of portfolio value over 30 days.

Pair Corralation between Kraken Ethereum and Poloniex Ethereum

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy95.45%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Ethereum USD  
0 

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.
Poloniex Ethereum USD  
0 

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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