This module allows you to analyze existing cross correlation between Bitfinex Bitcoin USD and SingularityX Bitcoin USD. You can compare the effects of market volatilities on Bitfinex 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 Bitfinex Bitcoin with a short position of SingularityX Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Bitcoin and SingularityX Bitcoin.
|Horizon||30 Days Login to change|
|Bitfinex Bitcoin USD|
Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Bitcoin is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
|SingularityX Bitcoin USD|
Over the last 30 days SingularityX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile 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.
Bitfinex Bitcoin and SingularityX Bitcoin Volatility Contrast
Bitfinex Bitcoin USD vs. SingularityX Bitcoin USD
Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 0.15 times more return on investment than SingularityX Bitcoin. However, Bitfinex Bitcoin USD is 6.48 times less risky than SingularityX Bitcoin. It trades about -0.71 of its potential returns per unit of risk. SingularityX Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest 1,006,700 in Bitfinex Bitcoin USD on August 22, 2019 and sell it today you would lose (1,600) from holding Bitfinex Bitcoin USD or give up 0.16% of portfolio value over 30 days.
Pair Corralation between Bitfinex Bitcoin and SingularityX Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for Bitfinex Bitcoin and SingularityX Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex 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 Bitfinex 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 Bitfinex 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 Bitfinex Bitcoin i.e. Bitfinex Bitcoin and SingularityX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.