This module allows you to analyze existing cross correlation between BTCAlpha Bitcoin USD and SingularityX Bitcoin USD. You can compare the effects of market volatilities on BTCAlpha Bitcoin and SingularityX 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 BTCAlpha Bitcoin with a short position of SingularityX Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of BTCAlpha Bitcoin and SingularityX Bitcoin.
|Horizon||30 Days Login to change|
|BTCAlpha Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in BTCAlpha Bitcoin USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, BTCAlpha Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
|SingularityX Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in SingularityX Bitcoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, SingularityX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
BTCAlpha Bitcoin and SingularityX Bitcoin Volatility Contrast
Predicted Return Density
BTCAlpha Bitcoin USD vs. SingularityX Bitcoin USD
Assuming 30 trading days horizon, BTCAlpha Bitcoin is expected to generate 1.14 times less return on investment than SingularityX Bitcoin. But when comparing it to its historical volatility, BTCAlpha Bitcoin USD is 1.5 times less risky than SingularityX Bitcoin. It trades about 0.3 of its potential returns per unit of risk. SingularityX Bitcoin USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 390,435 in SingularityX Bitcoin USD on April 22, 2019 and sell it today you would earn a total of 337,488 from holding SingularityX Bitcoin USD or generate 86.44% return on investment over 30 days.
Pair Corralation between BTCAlpha Bitcoin and SingularityX Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for BTCAlpha Bitcoin and SingularityX Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding BTCAlpha Bitcoin USD and SingularityX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SingularityX Bitcoin USD and BTCAlpha 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 BTCAlpha Bitcoin USD are associated (or correlated) with SingularityX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SingularityX Bitcoin USD has no effect on the direction of BTCAlpha Bitcoin i.e. BTCAlpha Bitcoin and SingularityX 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.