Correlation Analysis 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
 7,324 
46.10  0.63%
Market Cap: 208.7 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 8,065 
35.67  0.44%
Market Cap: 123.4 B
(741.55)
10.13% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin is expected to generate 1.09 times less return on investment than TrustDEX Bitcoin. In addition to that, Kraken Bitcoin is 1.02 times more volatile than TrustDEX Bitcoin USD. It trades about 0.1 of its total potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.11 per unit of volatility. If you would invest  737,990  in TrustDEX Bitcoin USD on June 19, 2018 and sell it today you would earn a total of  72,122  from holding TrustDEX Bitcoin USD or generate 9.77% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and TrustDEX Bitcoin

0.98
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
TrustDEX Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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