Correlation Analysis Between Kraken Bitcoin and StocksExchange Bitcoin

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

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 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.
StocksExchange Bitcoin  
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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 weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Kraken Bitcoin and StocksExchange Bitcoin Volatility Contrast

Kraken Bitcoin USD  vs.  StocksExchange Bitcoin USD

Kraken

Bitcoin on Kraken in USD

 10,313 
(17.30)  0.17%
Market Cap: 887.9 B
  

StocksExchange

Bitcoin on StocksExchange in USD

 10,586 
(237.36)  2.19%
Market Cap: 32.8 B
(273.68)
2.65% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to generate 0.91 times more return on investment than StocksExchange Bitcoin. However, Kraken Bitcoin USD is 1.1 times less risky than StocksExchange Bitcoin. It trades about -0.71 of its potential returns per unit of risk. StocksExchange Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest  1,033,000  in Kraken Bitcoin USD on August 17, 2019 and sell it today you would lose (18,000)  from holding Kraken Bitcoin USD or give up 1.74% of portfolio value over 30 days.

Pair Corralation between Kraken Bitcoin and StocksExchange Bitcoin

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

Diversification Opportunities for Kraken Bitcoin and StocksExchange 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 StocksExchange Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on StocksExchange Bitcoin 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 StocksExchange Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of StocksExchange Bitcoin has no effect on the direction of Kraken Bitcoin i.e. Kraken Bitcoin and StocksExchange Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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