Correlation Analysis Between Bitfinex Dash and Kraken Bitcoin

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

Comparative Performance

Bitfinex Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Dash is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
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 somewhat strong basic indicators, Kraken Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

Bitfinex Dash and Kraken Bitcoin Volatility Contrast

Bitfinex Dash USD  vs.  Kraken Bitcoin USD

Bitfinex

Dash on Bitfinex in USD

 97.29 
0.00  0.00%
Market Cap: 10.5 M
  

Kraken

Bitcoin on Kraken in USD

 10,196 
0.00  0.00%
Market Cap: 887.9 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,018,450  in Kraken Bitcoin USD on August 19, 2019 and sell it today you would earn a total of  0.00  from holding Kraken Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex Dash and Kraken Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Dash and Kraken Bitcoin

Bitfinex Dash USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Dash 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 Bitfinex Dash 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 Bitfinex Dash 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 Bitfinex Dash i.e. Bitfinex Dash and Kraken Bitcoin 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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