Correlation Analysis Between EXRATES Ethereum and Kraken Ethereum

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

EXRATES Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively fragile forward-looking signals, EXRATES Ethereum reported solid returns over the last few months and may actually be approaching a breakup point.
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 fragile basic indicators, Kraken Ethereum sustained solid returns over the last few months and may actually be approaching a breakup point.

EXRATES Ethereum and Kraken Ethereum Volatility Contrast

EXRATES Ethereum USD  vs.  Kraken Ethereum USD

EXRATES

Ethereum on EXRATES in USD

 219.13 
14.11  6.88%
Market Cap: 58.7 M
  

Kraken

Ethereum on Kraken in USD

 217.14 
(1.42)  0.65%
Market Cap: 994.3 M
 1.99 
0.91% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Ethereum USD is expected to generate 0.92 times more return on investment than Kraken Ethereum. However, EXRATES Ethereum USD is 1.08 times less risky than Kraken Ethereum. It trades about 0.58 of its potential returns per unit of risk. Kraken Ethereum USD is currently generating about 0.5 per unit of risk. If you would invest  20,502  in EXRATES Ethereum USD on August 21, 2019 and sell it today you would earn a total of  1,411  from holding EXRATES Ethereum USD or generate 6.88% return on investment over 30 days.

Pair Corralation between EXRATES Ethereum and Kraken Ethereum

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

Diversification Opportunities for EXRATES Ethereum and Kraken Ethereum

EXRATES Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding EXRATES 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 EXRATES 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 EXRATES 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 EXRATES Ethereum i.e. EXRATES Ethereum and Kraken Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.


 
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