Correlation Analysis Between Bitfinex Dash and Kraken Dash

This module allows you to analyze existing cross correlation between Bitfinex Dash USD and Kraken Dash USD. You can compare the effects of market volatilities on Bitfinex Dash and Kraken Dash 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 Dash. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Dash and Kraken Dash.
Horizon     30 Days    Login   to change
Symbolsvs
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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 weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
Kraken Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days Kraken Dash 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.

Bitfinex Dash and Kraken Dash Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Dash USD  vs.  Kraken Dash USD

Bitfinex

Dash on Bitfinex in USD

 92.39 
0.25  0.27%
Market Cap: 11 M
  

Kraken

Dash on Kraken in USD

 92.28 
0.11  0.12%
Market Cap: 1.2 M
 0.11 
0.12% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Dash USD is expected to generate 1.01 times more return on investment than Kraken Dash. However, Bitfinex Dash is 1.01 times more volatile than Kraken Dash USD. It trades about -0.18 of its potential returns per unit of risk. Kraken Dash USD is currently generating about -0.18 per unit of risk. If you would invest  15,574  in Bitfinex Dash USD on July 26, 2019 and sell it today you would lose (6,304)  from holding Bitfinex Dash USD or give up 40.48% of portfolio value over 30 days.

Pair Corralation between Bitfinex Dash and Kraken Dash

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Dash and Kraken Dash

Bitfinex Dash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Dash USD and Kraken Dash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Dash 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 Dash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Dash USD has no effect on the direction of Bitfinex Dash i.e. Bitfinex Dash and Kraken Dash go up and down completely randomly.
See also your portfolio center. Please also try Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .


 
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