Correlation Analysis Between Kraken Bitcoin and primexbt Bitcoin

This module allows you to analyze existing cross correlation between Kraken Bitcoin USD and primexbt Bitcoin USD. You can compare the effects of market volatilities on Kraken Bitcoin and primexbt 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 primexbt Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Bitcoin and primexbt 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 weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
primexbt Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days primexbt Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, primexbt Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Kraken Bitcoin and primexbt Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Kraken Bitcoin USD  vs.  primexbt Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 10,062 
(79.80)  0.79%
Market Cap: 445.8 B
  

primexbt

Bitcoin on primexbt in USD

 10,087 
(80.03)  0.79%
Market Cap: 695.6 B
(24.50)
0.24% 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 primexbt Bitcoin. In addition to that, Kraken Bitcoin is 1.22 times more volatile than primexbt Bitcoin USD. It trades about -0.08 of its total potential returns per unit of risk. primexbt Bitcoin USD is currently generating about -0.01 per unit of volatility. If you would invest  1,119,892  in primexbt Bitcoin USD on July 26, 2019 and sell it today you would lose (111,192)  from holding primexbt Bitcoin USD or give up 9.93% of portfolio value over 30 days.

Pair Corralation between Kraken Bitcoin and primexbt Bitcoin

0.18
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy73.33%
ValuesDaily Returns

Diversification Opportunities for Kraken Bitcoin and primexbt Bitcoin

Kraken Bitcoin USD diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Bitcoin USD and primexbt Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on primexbt 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 primexbt Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of primexbt Bitcoin USD has no effect on the direction of Kraken Bitcoin i.e. Kraken Bitcoin and primexbt Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try ETF Directory module to find actively-traded exchange traded funds (etf) from around the world.


 
Search macroaxis.com