Correlation Analysis Between Kraken Bitcoin and BitTrex Bitcoin

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

Kraken Bitcoin USD  vs.  BitTrex Bitcoin USD


Bitcoin on Kraken in USD

53.70  0.83%
Market Cap: 19.8 B


Bitcoin on BitTrex in USD

55.93  0.87%
Market Cap: 1.8 B
0.23% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to under-perform the BitTrex Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Bitcoin USD is 1.03 times less risky than BitTrex Bitcoin. The crypto trades about 0.0 of its potential returns per unit of risk. The BitTrex Bitcoin USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  640,318  in BitTrex Bitcoin USD on September 18, 2018 and sell it today you would earn a total of  3,382  from holding BitTrex Bitcoin USD or generate 0.53% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and BitTrex Bitcoin

Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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

Comparative Volatility

 Predicted Return Density 
Kraken Bitcoin USD  

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.
BitTrex Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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