Correlation Analysis Between Liquid Bitcoin and Kraken Ethereum

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

Comparative Performance

Liquid Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Liquid Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Liquid Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
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 latest fragile performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.

Liquid Bitcoin and Kraken Ethereum Volatility Contrast

Liquid Bitcoin USD  vs.  Kraken Ethereum USD

Liquid

Bitcoin on Liquid in USD

 10,214 
0.00  0.00%
Market Cap: 167.2 B
  

Kraken

Ethereum on Kraken in USD

 207.66 
8.75  4.40%
Market Cap: 994.3 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,021,436  in Liquid Bitcoin USD on August 18, 2019 and sell it today you would earn a total of  0.00  from holding Liquid Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Liquid Bitcoin and Kraken Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and Kraken Ethereum

Liquid Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Bitcoin USD and Kraken Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Ethereum USD and Liquid 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 Liquid Bitcoin USD are associated (or correlated) with Kraken Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Ethereum USD has no effect on the direction of Liquid Bitcoin i.e. Liquid Bitcoin and Kraken Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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