Correlation Analysis Between BitTrex Ethereum and Kraken Ethereum

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

BitTrex Ethereum USD  vs.  Kraken Ethereum USD


Ethereum on BitTrex in USD

1.96  0.98%
Market Cap: 339 K


Ethereum on Kraken in USD

4.68  2.39%
Market Cap: 3.2 B
1.71% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to under-perform the Kraken Ethereum. In addition to that, BitTrex Ethereum is 1.06 times more volatile than Kraken Ethereum USD. It trades about -0.01 of its total potential returns per unit of risk. Kraken Ethereum USD is currently generating about 0.03 per unit of volatility. If you would invest  19,720  in Kraken Ethereum USD on September 15, 2018 and sell it today you would earn a total of  58.00  from holding Kraken Ethereum USD or generate 0.29% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Kraken Ethereum

Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitTrex 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 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 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 BitTrex Ethereum i.e. BitTrex Ethereum and Kraken Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
BitTrex Ethereum USD  

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Kraken Ethereum USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Ethereum USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.