Correlation Analysis Between Kraken Bitcoin and HitBTC Bitcoin

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

Comparative Performance

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.
HitBTC Bitcoin USD  
0

Risk-Adjusted Performance

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

Kraken Bitcoin and HitBTC Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Bitcoin USD  vs.  HitBTC Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 3,708 
196.00  5.58%
Market Cap: 6.2 B
  

HitBTC

Bitcoin on HitBTC in USD

 3,687 
0.00  0.00%
Market Cap: 817.8 K
 21.38 
0.58% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  368,692  in HitBTC Bitcoin USD on November 19, 2018 and sell it today you would earn a total of  0.00  from holding HitBTC Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and HitBTC Bitcoin

0.69
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy4.76%
ValuesDaily Returns

Diversification Opportunities for Kraken Bitcoin and HitBTC Bitcoin

Kraken Bitcoin USD diversification synergy

Poor diversification

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

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