Pair Correlation Between Kraken Bitcoin and TrustDEX Bitcoin

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

Kraken Bitcoin USD  vs.  TrustDEX Bitcoin USD

Kraken

Bitcoin on Kraken in USD
 9,138 
320.60  3.39%
Market Cap: 261.1 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 10,038 
354.20  3.41%
Market Cap: 127.9 B
(900.00)
9.85% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin is expected to generate 1.01 times less return on investment than TrustDEX Bitcoin. But when comparing it to its historical volatility, Kraken Bitcoin USD is 1.03 times less risky than TrustDEX Bitcoin. It trades about 0.02 of its potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  1,056,880  in TrustDEX Bitcoin USD on March 26, 2018 and sell it today you would lose (17,710)  from holding TrustDEX Bitcoin USD or give up 1.68% of portfolio value over 30 days.

Pair Corralation between Kraken Bitcoin and TrustDEX 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 TrustDEX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on TrustDEX 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 TrustDEX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TrustDEX Bitcoin USD has no effect on the direction of Kraken Bitcoin i.e. Kraken Bitcoin and TrustDEX Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Bitcoin USD  
1 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1019.98

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.