Pair Correlation Between Kraken Bitcoin and Coinroom Bitcoin

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

Kraken Bitcoin USD  vs.  Coinroom Bitcoin USD

Kraken

Bitcoin on Kraken in USD
 8,884 
33.40  0.38%
Market Cap: 262.2 B
  

Coinroom

Bitcoin on Coinroom in USD
 9,088 
74.70  0.83%
Market Cap: 14.5 B
(203.16)
2.29% 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 Coinroom Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Bitcoin USD is 1.16 times less risky than Coinroom Bitcoin. The crypto trades about -0.02 of its potential returns per unit of risk. The Coinroom Bitcoin USD is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  982,209  in Coinroom Bitcoin USD on March 23, 2018 and sell it today you would lose (91,072)  from holding Coinroom Bitcoin USD or give up 9.27% of portfolio value over 30 days.

Pair Corralation between Kraken Bitcoin and Coinroom Bitcoin

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.36%
ValuesDaily Returns

Diversification

Almost no diversification

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

Risk-Adjusted Performance

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

Coinroom Bitcoin USD

Pair trading matchups for Coinroom 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
$1087.7

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.