Correlation Analysis Between Liquid Bitcoin and Kraken Bitcoin

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

Comparative Performance

Liquid Bitcoin USD  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Liquid Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Liquid Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Kraken Bitcoin USD  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Kraken Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

Liquid Bitcoin and Kraken Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Liquid Bitcoin USD  vs.  Kraken Bitcoin USD

Liquid

Bitcoin on Liquid in USD

 10,632 
(163.99)  1.52%
Market Cap: 60.4 B
  

Kraken

Bitcoin on Kraken in USD

 10,678 
(112.30)  1.04%
Market Cap: 445.8 B
(45.47)
0.43% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Liquid Bitcoin USD is expected to generate 0.97 times more return on investment than Kraken Bitcoin. However, Liquid Bitcoin USD is 1.03 times less risky than Kraken Bitcoin. It trades about 0.04 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about 0.04 per unit of risk. If you would invest  1,048,923  in Liquid Bitcoin USD on July 21, 2019 and sell it today you would earn a total of  30,679  from holding Liquid Bitcoin USD or generate 2.92% return on investment over 30 days.

Pair Corralation between Liquid Bitcoin and Kraken Bitcoin

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Liquid Bitcoin and Kraken Bitcoin

Liquid Bitcoin USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Liquid Bitcoin USD and Kraken Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Bitcoin USD and Liquid 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 Liquid Bitcoin USD are associated (or correlated) with Kraken Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Bitcoin USD has no effect on the direction of Liquid Bitcoin i.e. Liquid Bitcoin and Kraken Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.


 
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