Correlation Analysis Between Kraken Ethereum and Coinsbit Ethereum

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

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.
Coinsbit Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit 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 fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Kraken Ethereum and Coinsbit Ethereum Volatility Contrast

Kraken Ethereum USD  vs.  Coinsbit Ethereum USD

Kraken

Ethereum on Kraken in USD

 197.63 
2.84  1.46%
Market Cap: 994.3 M
  

Coinsbit

Ethereum on Coinsbit in USD

 196.41 
2.13  1.10%
Market Cap: 282.6 M
 1.22 
0.62% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Ethereum USD is expected to under-perform the Coinsbit Ethereum. In addition to that, Kraken Ethereum is 1.04 times more volatile than Coinsbit Ethereum USD. It trades about -0.71 of its total potential returns per unit of risk. Coinsbit Ethereum USD is currently generating about -0.71 per unit of volatility. If you would invest  19,428  in Coinsbit Ethereum USD on August 17, 2019 and sell it today you would lose (483.00)  from holding Coinsbit Ethereum USD or give up 2.49% of portfolio value over 30 days.

Pair Corralation between Kraken Ethereum and Coinsbit Ethereum

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

Diversification Opportunities for Kraken Ethereum and Coinsbit Ethereum

Kraken Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Ethereum USD and Coinsbit Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinsbit Ethereum USD and Kraken 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 Kraken Ethereum USD are associated (or correlated) with Coinsbit Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinsbit Ethereum USD has no effect on the direction of Kraken Ethereum i.e. Kraken Ethereum and Coinsbit Ethereum go up and down completely randomly.
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