Correlation Analysis Between Kraken Bitcoin and Bitstamp Bitcoin

This module allows you to analyze existing cross correlation between Kraken Bitcoin USD and Bitstamp Bitcoin USD. You can compare the effects of market volatilities on Kraken Bitcoin and Bitstamp 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 Bitstamp Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Bitcoin and Bitstamp 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 somewhat fragile basic indicators, Kraken Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Bitstamp Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Bitstamp Bitcoin is not utilizing all of its potentials. The prevalent stock price chaos, may contribute to medium term losses for the stakeholders.

Kraken Bitcoin and Bitstamp Bitcoin Volatility Contrast

Kraken Bitcoin USD  vs.  Bitstamp Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 10,173 
0.00  0.00%
Market Cap: 887.9 B
  

Bitstamp

Bitcoin on Bitstamp in USD

 10,149 
0.00  0.00%
Market Cap: 1100.9 B
 23.95 
0.24% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  989,560  in Kraken Bitcoin USD on August 21, 2019 and sell it today you would earn a total of  28,640  from holding Kraken Bitcoin USD or generate 2.89% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and Bitstamp Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for Kraken Bitcoin and Bitstamp Bitcoin

Kraken Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Bitcoin USD and Bitstamp Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp 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 Bitstamp Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Bitcoin USD has no effect on the direction of Kraken Bitcoin i.e. Kraken Bitcoin and Bitstamp Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .


 
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