This module allows you to analyze existing cross correlation between BitTrex Ethereum Classic USD and Kraken Monero USD. You can compare the effects of market volatilities on BitTrex Ethereum and Kraken Monero 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 BitTrex Ethereum with a short position of Kraken Monero. See also your portfolio center
. Please also check ongoing floating volatility patterns of BitTrex Ethereum
and Kraken Monero
Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Kraken Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.
BitTrex Ethereum and Kraken Monero Volatility Contrast
BitTrex Ethereum Classic USD vs. Kraken Monero USD
Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to generate 0.72 times more return on investment than Kraken Monero. However, BitTrex Ethereum Classic USD is 1.39 times less risky than Kraken Monero. It trades about -0.05 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.07 per unit of risk. If you would invest 515.00 in BitTrex Ethereum Classic USD on December 22, 2018 and sell it today you would lose (92.00) from holding BitTrex Ethereum Classic USD or give up 17.86% of portfolio value over 30 days.
Pair Corralation between BitTrex Ethereum and Kraken Monero
|Time Period||2 Months [change]|
Diversification Opportunities for BitTrex Ethereum and Kraken Monero
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum Classic USD and Kraken Monero USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Monero USD and BitTrex 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 BitTrex Ethereum Classic USD are associated (or correlated) with Kraken Monero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Monero USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and Kraken Monero go up and down completely randomly.