Correlation Analysis Between Bitforex Ethereum and Kraken Ethereum

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

Comparative Performance

Bitforex Ethereum USD  
00

Risk-Adjusted Performance

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

Bitforex Ethereum and Kraken Ethereum Volatility Contrast

Bitforex Ethereum USD  vs.  Kraken Ethereum USD

Bitforex

Ethereum on Bitforex in USD

 204.50 
0.00  0.00%
Market Cap: 6.6 M
  

Kraken

Ethereum on Kraken in USD

 215.71 
(1.95)  0.90%
Market Cap: 994.3 M
(11.21)
5.48% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  21,766  in Kraken Ethereum USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding Kraken Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitforex Ethereum and Kraken Ethereum

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

Diversification Opportunities for Bitforex Ethereum and Kraken Ethereum

Bitforex Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitforex 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 Bitforex 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 Bitforex 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 Bitforex Ethereum i.e. Bitforex Ethereum and Kraken Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.


 
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