Correlation Analysis Between Poloniex Bitcoin and Kraken Bitcoin

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

Poloniex Bitcoin USD  vs.  Kraken Bitcoin USD

Poloniex

Bitcoin on Poloniex in USD
 6,547 
202.86  3.20%
Market Cap: 18.5 B
  

Kraken

Bitcoin on Kraken in USD
 6,612 
269.80  4.25%
Market Cap: 57.6 B
(65.12)
0.99% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Bitcoin USD is expected to generate 1.16 times more return on investment than Kraken Bitcoin. However, Poloniex Bitcoin is 1.16 times more volatile than Kraken Bitcoin USD. It trades about -0.02 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about -0.07 per unit of risk. If you would invest  670,899  in Poloniex Bitcoin USD on June 16, 2018 and sell it today you would lose (16,241)  from holding Poloniex Bitcoin USD or give up 2.42% of portfolio value over 30 days.

Pair Corralation between Poloniex Bitcoin and Kraken Bitcoin

0.96
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 Poloniex 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 Poloniex 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 Poloniex 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 Poloniex Bitcoin i.e. Poloniex Bitcoin and Kraken Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Bitcoin USD  
0 

Risk-Adjusted Performance

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

Poloniex Bitcoin USD

Pair trading matchups for Poloniex Bitcoin
Kraken Bitcoin USD  
0 

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.

Kraken Bitcoin USD

Pair trading matchups for Kraken Bitcoin

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
$1188.82

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 Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.