Correlation Analysis Between bingcoins Bitcoin and Kraken Bitcoin

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

Comparative Performance

bingcoins Bitcoin USD  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in bingcoins Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, bingcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
Kraken Bitcoin USD  
00

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. Despite latest weak 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.

bingcoins Bitcoin and Kraken Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

bingcoins Bitcoin USD  vs.  Kraken Bitcoin USD

bingcoins

Bitcoin on bingcoins in USD

 10,362 
567.94  5.80%
Market Cap: 7.7 B
  

Kraken

Bitcoin on Kraken in USD

 9,823 
(152.40)  1.53%
Market Cap: 445.8 B
 539.00 
5.20% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, bingcoins Bitcoin USD is expected to generate 24.5 times more return on investment than Kraken Bitcoin. However, bingcoins Bitcoin is 24.5 times more volatile than Kraken Bitcoin USD. It trades about 0.15 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about -0.02 per unit of risk. If you would invest  0.00  in bingcoins Bitcoin USD on July 22, 2019 and sell it today you would earn a total of  1,036,200  from holding bingcoins Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between bingcoins Bitcoin and Kraken Bitcoin

0.21
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for bingcoins Bitcoin and Kraken Bitcoin

bingcoins Bitcoin USD diversification synergy

Modest diversification

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