Correlation Analysis Between Poloniex Ethereum and Kraken Ethereum

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

Poloniex Ethereum USD  vs.  Kraken Ethereum USD

Poloniex

Ethereum on Poloniex in USD

 225.18 
14.50  6.88%
Market Cap: 594.9 M
  

Kraken

Ethereum on Kraken in USD

 221.66 
12.09  5.77%
Market Cap: 3.6 B
 3.52 
1.56% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Poloniex Ethereum USD is expected to under-perform the Kraken Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Poloniex Ethereum USD is 1.03 times less risky than Kraken Ethereum. The crypto trades about -0.2 of its potential returns per unit of risk. The Kraken Ethereum USD is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest  26,490  in Kraken Ethereum USD on August 21, 2018 and sell it today you would lose (4,324)  from holding Kraken Ethereum USD or give up 16.32% of portfolio value over 30 days.

Pair Corralation between Poloniex Ethereum and Kraken Ethereum

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Poloniex Ethereum USD  
0 

Risk-Adjusted Performance

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

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
$1188.9

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 Fund Screener module to find activelly-traded funds from around the world traded on over 30 global exchanges.


 
Search macroaxis.com