This module allows you to analyze existing cross correlation between Coinsbit Ethereum USD and SingularityX Ethereum USD. You can compare the effects of market volatilities on Coinsbit Ethereum and SingularityX 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 Coinsbit Ethereum with a short position of SingularityX Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinsbit Ethereum and SingularityX Ethereum.
|Horizon||30 Days Login to change|
|Coinsbit Ethereum USD|
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 September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
|SingularityX Ethereum USD|
Over the last 30 days SingularityX 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 September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Coinsbit Ethereum and SingularityX Ethereum Volatility Contrast
Predicted Return Density
Coinsbit Ethereum USD vs. SingularityX Ethereum USD
Assuming 30 trading days horizon, Coinsbit Ethereum USD is expected to under-perform the SingularityX Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Coinsbit Ethereum USD is 1.28 times less risky than SingularityX Ethereum. The crypto trades about -0.09 of its potential returns per unit of risk. The SingularityX Ethereum USD is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest 31,487 in SingularityX Ethereum USD on July 24, 2019 and sell it today you would lose (12,206) from holding SingularityX Ethereum USD or give up 38.77% of portfolio value over 30 days.
Pair Corralation between Coinsbit Ethereum and SingularityX Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for Coinsbit Ethereum and SingularityX Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Coinsbit Ethereum USD and SingularityX Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SingularityX Ethereum USD and Coinsbit 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 Coinsbit Ethereum USD are associated (or correlated) with SingularityX Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SingularityX Ethereum USD has no effect on the direction of Coinsbit Ethereum i.e. Coinsbit Ethereum and SingularityX Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.