Pair Correlation Between Kraken Bitcoin and Cexio Bitcoin

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

Kraken Bitcoin USD  vs.  Cexio Bitcoin USD

Kraken

Bitcoin on Kraken in USD
 8,784 
76.40  0.86%
Market Cap: 262.2 B
  

Cexio

Bitcoin on Cexio in USD
 8,844 
8.30  0.0939%
Market Cap: 51.2 B
(60.00)
0.68% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to generate 0.99 times more return on investment than Cexio Bitcoin. However, Kraken Bitcoin USD is 1.01 times less risky than Cexio Bitcoin. It trades about -0.04 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about -0.07 per unit of risk. If you would invest  1,049,900  in Kraken Bitcoin USD on March 22, 2018 and sell it today you would lose (167,400)  from holding Kraken Bitcoin USD or give up 15.94% of portfolio value over 30 days.

Pair Corralation between Kraken Bitcoin and Cexio Bitcoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Bitcoin USD  
0 

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.

Kraken Bitcoin USD

Pair trading matchups for Kraken Bitcoin
Cexio Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Cexio Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Cexio Bitcoin USD

Pair trading matchups for Cexio Bitcoin

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.