Correlation Analysis Between Kraken Ethereum and Cexio Ethereum

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

Kraken Ethereum USD  vs.  Cexio Ethereum USD

Kraken

Ethereum on Kraken in USD
 503.95 
2.07  0.41%
Market Cap: 4.7 B
  

Cexio

Ethereum on Cexio in USD
 497.86 
1.14  0.23%
Market Cap: 859.5 M
 6.09 
1.21% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Ethereum USD is expected to under-perform the Cexio Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Kraken Ethereum USD is 1.06 times less risky than Cexio Ethereum. The crypto trades about -0.1 of its potential returns per unit of risk. The Cexio Ethereum USD is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  53,541  in Cexio Ethereum USD on June 17, 2018 and sell it today you would lose (4,472)  from holding Cexio Ethereum USD or give up 8.35% of portfolio value over 30 days.

Pair Corralation between Kraken Ethereum and Cexio Ethereum

0.99
Time Period1 Month [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 Ethereum USD and Cexio Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Ethereum USD and Kraken Ethereum 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 Ethereum USD are associated (or correlated) with Cexio Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Ethereum USD has no effect on the direction of Kraken Ethereum i.e. Kraken Ethereum and Cexio Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Kraken Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Ethereum USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1198.8

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.