Correlation Analysis Between BitTrex Ethereum and Kraken Ethereum

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

Comparative Performance

BitTrex Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite weak performance in the last few months, the Crypto's basic indicators remain fairly 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.
Kraken Ethereum USD  
00

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. Despite weak 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.

BitTrex Ethereum and Kraken Ethereum Volatility Contrast

BitTrex Ethereum USD  vs.  Kraken Ethereum USD

BitTrex

Ethereum on BitTrex in USD

 198.37 
3.86  1.98%
Market Cap: 75.3 M
  

Kraken

Ethereum on Kraken in USD

 197.63 
2.84  1.46%
Market Cap: 994.3 M
 0.74 
0.37% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to generate 0.94 times more return on investment than Kraken Ethereum. However, BitTrex Ethereum USD is 1.07 times less risky than Kraken Ethereum. It trades about -0.71 of its potential returns per unit of risk. Kraken Ethereum USD is currently generating about -0.71 per unit of risk. If you would invest  19,451  in BitTrex Ethereum USD on August 17, 2019 and sell it today you would lose (472.00)  from holding BitTrex Ethereum USD or give up 2.43% of portfolio value over 30 days.

Pair Corralation between BitTrex Ethereum and Kraken Ethereum

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

Diversification Opportunities for BitTrex Ethereum and Kraken Ethereum

BitTrex Ethereum USD diversification synergy

Pay attention

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