Correlation Analysis Between Bitfinex Recovery and Ethfinex SingularDTV

This module allows you to analyze existing cross correlation between Bitfinex Recovery Right Tokens USD and Ethfinex SingularDTV USD. You can compare the effects of market volatilities on Bitfinex Recovery and Ethfinex SingularDTV 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 Recovery with a short position of Ethfinex SingularDTV. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Recovery and Ethfinex SingularDTV.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Bitfinex Recovery Right  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Recovery is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
Ethfinex SingularDTV USD  
00

Risk-Adjusted Performance

Over the last 30 days Ethfinex SingularDTV USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Ethfinex SingularDTV is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

Bitfinex Recovery and Ethfinex SingularDTV Volatility Contrast

Bitfinex Recovery Right Tokens  vs.  Ethfinex SingularDTV USD

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.0372 
0.00  0.00%
Market Cap: 224
  

Ethfinex

SingularDTV on Ethfinex in USD

 0.008098 
0.00  0.00%
Market Cap: 162
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.70  in Ethfinex SingularDTV USD on August 21, 2019 and sell it today you would earn a total of  0.00  from holding Ethfinex SingularDTV USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex Recovery and Ethfinex SingularDTV

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Recovery and Ethfinex SingularDTV

Bitfinex Recovery Right Tokens diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Recovery Right Tokens and Ethfinex SingularDTV USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Ethfinex SingularDTV USD and Bitfinex Recovery 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 Recovery Right Tokens USD are associated (or correlated) with Ethfinex SingularDTV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ethfinex SingularDTV USD has no effect on the direction of Bitfinex Recovery i.e. Bitfinex Recovery and Ethfinex SingularDTV go up and down completely randomly.
See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.


 
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