This module allows you to analyze existing cross correlation between Kraken Ethereum Classic USD and Coinbase Augur USD. You can compare the effects of market volatilities on Kraken Ethereum and Coinbase Augur 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 Coinbase Augur. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Ethereum and Coinbase Augur.
|Horizon||30 Days Login to change|
|Kraken Ethereum Classic|
Over the last 30 days Kraken Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Kraken Ethereum is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
|Coinbase Augur USD|
Over the last 30 days Coinbase Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively fragile forward-looking signals, Coinbase Augur reported solid returns over the last few months and may actually be approaching a breakup point.
Kraken Ethereum and Coinbase Augur Volatility Contrast
Kraken Ethereum Classic USD vs. Coinbase Augur USD
If you would invest 1,066 in Coinbase Augur USD on August 21, 2019 and sell it today you would earn a total of 11.00 from holding Coinbase Augur USD or generate 1.03% return on investment over 30 days.
Pair Corralation between Kraken Ethereum and Coinbase Augur
|Time Period||3 Months [change]|
Diversification Opportunities for Kraken Ethereum and Coinbase Augur
Overlapping area represents the amount of risk that can be diversified away by holding Kraken Ethereum Classic USD and Coinbase Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Augur 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 Classic USD are associated (or correlated) with Coinbase Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Augur USD has no effect on the direction of Kraken Ethereum i.e. Kraken Ethereum and Coinbase Augur go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.