This module allows you to analyze existing cross correlation between Bitfinex Bitcoin USD and Kraken Bitcoin USD. You can compare the effects of market volatilities on Bitfinex 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 Bitfinex Bitcoin with a short position of Kraken Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Bitcoin and Kraken Bitcoin.
|Horizon||30 Days Login to change|
|Bitfinex Bitcoin USD|
Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Bitcoin is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
|Kraken Bitcoin USD|
Over the last 30 days Kraken Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Kraken Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Bitfinex Bitcoin and Kraken Bitcoin Volatility Contrast
Bitfinex Bitcoin USD vs. Kraken Bitcoin USD
If you would invest 1,029,070 in Kraken Bitcoin USD on August 16, 2019 and sell it today you would earn a total of 0.00 from holding Kraken Bitcoin USD or generate 0.0% return on investment over 30 days.
Pair Corralation between Bitfinex Bitcoin and Kraken Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for Bitfinex Bitcoin and Kraken Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex 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 Bitfinex 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 Bitfinex 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 Bitfinex Bitcoin i.e. Bitfinex Bitcoin and Kraken Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.