This module allows you to analyze existing cross correlation between SingularityX Ethereum USD and Bitstamp Ethereum USD. You can compare the effects of market volatilities on SingularityX Ethereum and Bitstamp 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 SingularityX Ethereum with a short position of Bitstamp Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of SingularityX Ethereum and Bitstamp Ethereum.
|Horizon||30 Days Login to change|
|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.
|Bitstamp Ethereum USD|
Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in September 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.
SingularityX Ethereum and Bitstamp Ethereum Volatility Contrast
Predicted Return Density
SingularityX Ethereum USD vs. Bitstamp Ethereum USD
Assuming 30 trading days horizon, SingularityX Ethereum USD is expected to generate 1.32 times more return on investment than Bitstamp Ethereum. However, SingularityX Ethereum is 1.32 times more volatile than Bitstamp Ethereum USD. It trades about -0.08 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.12 per unit of risk. If you would invest 29,577 in SingularityX Ethereum USD on July 20, 2019 and sell it today you would lose (9,669) from holding SingularityX Ethereum USD or give up 32.69% of portfolio value over 30 days.
Pair Corralation between SingularityX Ethereum and Bitstamp Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for SingularityX Ethereum and Bitstamp Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding SingularityX Ethereum USD and Bitstamp Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp Ethereum USD and SingularityX 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 SingularityX Ethereum USD are associated (or correlated) with Bitstamp Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Ethereum USD has no effect on the direction of SingularityX Ethereum i.e. SingularityX Ethereum and Bitstamp Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.