Correlation Analysis Between HitBTC Ethereum and Kraken Ethereum

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

Comparative Performance

HitBTC Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days HitBTC Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Kraken Ethereum USD  
5

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Ethereum USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

HitBTC Ethereum and Kraken Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

HitBTC Ethereum USD  vs.  Kraken Ethereum USD

HitBTC

Ethereum on HitBTC in USD

 120.68 
0.00  0.00%
Market Cap: 3.4 K
  

Kraken

Ethereum on Kraken in USD

 122.03 
(0.42)  0.00%
Market Cap: 2.6 B
(1.35)
1.12% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  10,660  in Kraken Ethereum USD on December 25, 2018 and sell it today you would earn a total of  1,543  from holding Kraken Ethereum USD or generate 14.47% return on investment over 30 days.

Pair Corralation between HitBTC Ethereum and Kraken Ethereum

-0.5
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy7.69%
ValuesDaily Returns

Diversification Opportunities for HitBTC Ethereum and Kraken Ethereum

HitBTC Ethereum USD diversification synergy

Very good diversification

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

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