Correlation Analysis Between StocksExchange Bitcoin and Kraken Bitcoin

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

Comparative Performance

StocksExchange Bitcoin  
00

Risk-Adjusted Performance

Over the last 30 days StocksExchange Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather fragile fundamental drivers, StocksExchange Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.
Kraken Bitcoin USD  
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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. Despite fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

StocksExchange Bitcoin and Kraken Bitcoin Volatility Contrast

StocksExchange Bitcoin USD  vs.  Kraken Bitcoin USD

StocksExchange

Bitcoin on StocksExchange in USD

 10,570 
43.02  0.41%
Market Cap: 32.8 B
  

Kraken

Bitcoin on Kraken in USD

 9,968 
(163.70)  1.62%
Market Cap: 887.9 B
 602.03 
5.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, StocksExchange Bitcoin USD is expected to generate 0.43 times more return on investment than Kraken Bitcoin. However, StocksExchange Bitcoin USD is 2.35 times less risky than Kraken Bitcoin. It trades about 0.71 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest  1,052,671  in StocksExchange Bitcoin USD on August 22, 2019 and sell it today you would earn a total of  4,302  from holding StocksExchange Bitcoin USD or generate 0.41% return on investment over 30 days.

Pair Corralation between StocksExchange Bitcoin and Kraken Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for StocksExchange Bitcoin and Kraken Bitcoin

StocksExchange Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding StocksExchange 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 StocksExchange 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 StocksExchange 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 StocksExchange Bitcoin i.e. StocksExchange Bitcoin and Kraken Bitcoin go up and down completely randomly.
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