Pair Correlation Between Cexio Ethereum and Kraken Ethereum

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

Cexio

Ethereum on Cexio in USD
 922.51 
15.02  1.66%
Market Cap: 12.9 B
 149.51 

Kraken

Ethereum on Kraken in USD
 773 
(193)  19.98%
Market Cap: 79.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 1.6 times less return on investment than Kraken Ethereum. In addition to that, Cexio Ethereum is 1.12 times more volatile than Kraken Ethereum USD. It trades about 0.06 of its total potential returns per unit of risk. Kraken Ethereum USD is currently generating about 0.1 per unit of volatility. If you would invest  80,800  in Kraken Ethereum USD on December 18, 2017 and sell it today you would earn a total of  12,028  from holding Kraken Ethereum USD or generate 14.89% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and Kraken Ethereum
0.97

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Ethereum USD

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum

Kraken Ethereum USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Ethereum USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Kraken Ethereum USD

Pair trading matchups for Kraken Ethereum