Correlation Analysis Between TrustDEX Bitcoin and Kraken Bitcoin

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

TrustDEX Bitcoin USD  vs.  Kraken Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 8,244 
49.50  0.60%
Market Cap: 123.4 B
  

Kraken

Bitcoin on Kraken in USD
 7,445 
8.50  0.11%
Market Cap: 208.7 B
 799.40 
9.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to generate 0.99 times more return on investment than Kraken Bitcoin. However, TrustDEX Bitcoin USD is 1.01 times less risky than Kraken Bitcoin. It trades about 0.13 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about 0.12 per unit of risk. If you would invest  736,691  in TrustDEX Bitcoin USD on June 20, 2018 and sell it today you would earn a total of  89,432  from holding TrustDEX Bitcoin USD or generate 12.14% return on investment over 30 days.

Pair Corralation between TrustDEX Bitcoin and Kraken Bitcoin

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 TrustDEX 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 TrustDEX 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 TrustDEX 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 TrustDEX Bitcoin i.e. TrustDEX Bitcoin and Kraken Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
TrustDEX Bitcoin USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Kraken Bitcoin USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.


 
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