Correlation Analysis Between Kraken Bitcoin and itBit Bitcoin

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

Kraken Bitcoin USD  
00

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 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.
itBit Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days itBit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, itBit Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

Kraken Bitcoin and itBit Bitcoin Volatility Contrast

Kraken Bitcoin USD  vs.  itBit Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 0.00 
0.00  0.00%
Market Cap: 887.9 B
  

itBit

Bitcoin on itBit in USD

 10,222 
0.00  0.00%
Market Cap: 1.6 B
(10,222)
Huge% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,022,225  in itBit Bitcoin USD on August 18, 2019 and sell it today you would earn a total of  0.00  from holding itBit Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Kraken Bitcoin and itBit Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for Kraken Bitcoin and itBit Bitcoin

Kraken Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Bitcoin USD and itBit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit Bitcoin USD and Kraken 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 Kraken Bitcoin USD are associated (or correlated) with itBit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Bitcoin USD has no effect on the direction of Kraken Bitcoin i.e. Kraken Bitcoin and itBit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.


 
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