Correlation Analysis Between Kraken Bitcoin and bingcoins Bitcoin

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

Comparative Performance

Kraken Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Kraken Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
bingcoins Bitcoin USD  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in bingcoins Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, bingcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.

Kraken Bitcoin and bingcoins Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Bitcoin USD  vs.  bingcoins Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 10,075 
(67.30)  0.66%
Market Cap: 445.8 B
  

bingcoins

Bitcoin on bingcoins in USD

 10,361 
142.00  1.39%
Market Cap: 7.7 B
(286.00)
2.84% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to under-perform the bingcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Bitcoin USD is 24.42 times less risky than bingcoins Bitcoin. The crypto trades about -0.03 of its potential returns per unit of risk. The bingcoins Bitcoin USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  0.00  in bingcoins Bitcoin USD on July 25, 2019 and sell it today you would earn a total of  990,910  from holding bingcoins Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and bingcoins Bitcoin

0.29
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Kraken Bitcoin and bingcoins Bitcoin

Kraken Bitcoin USD diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Bitcoin USD and bingcoins Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on bingcoins Bitcoin USD and Kraken Bitcoin 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 Kraken Bitcoin USD are associated (or correlated) with bingcoins Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bingcoins Bitcoin USD has no effect on the direction of Kraken Bitcoin i.e. Kraken Bitcoin and bingcoins Bitcoin go up and down completely randomly.
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