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
Compare Efficiency

Comparative Performance

HitBTC Ethereum USD  

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  

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 

HitBTC Ethereum USD  vs.  Kraken Ethereum USD


Ethereum on HitBTC in USD

0.00  0.00%
Market Cap: 3.4 K


Ethereum on Kraken in USD

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

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

Time Period2 Months [change]
StrengthVery Weak
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.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.