This module allows you to analyze existing cross correlation between Bitfinex Ethereum USD and Kraken Ethereum USD. You can compare the effects of market volatilities on Bitfinex Ethereum 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 Bitfinex Ethereum with a short position of Kraken Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Bitfinex Ethereum
and Kraken Ethereum
Bitfinex Ethereum USD vs Kraken Ethereum USD
Assuming 30 trading days horizon, Bitfinex Ethereum USD is expected to generate 1.01 times more return on investment than Kraken Ethereum. However, Bitfinex Ethereum is 1.01 times more volatile than Kraken Ethereum USD. It trades about 0.27 of its potential returns per unit of risk. Kraken Ethereum USD is currently generating about 0.24 per unit of risk. If you would invest 61,805 in Bitfinex Ethereum USD on December 22, 2017 and sell it today you would earn a total of 46,585 from holding Bitfinex Ethereum USD or generate 75.37% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Ethereum 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 Bitfinex 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 Bitfinex Ethereum 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 Bitfinex Ethereum i.e. Bitfinex Ethereum and Kraken Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Ethereum USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Ethereum USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.