Correlation Analysis Between Bitstamp Bitcoin and SingularityX Bitcoin

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

Comparative Performance

Bitstamp Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest fragile performance, the Crypto's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the entity stakeholders.
SingularityX Bitcoin USD  
00

Risk-Adjusted Performance

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.

Bitstamp Bitcoin and SingularityX Bitcoin Volatility Contrast

Bitstamp Bitcoin USD  vs.  SingularityX Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD

 10,005 
(97.48)  0.96%
Market Cap: 1100.9 B
  

SingularityX

Bitcoin on SingularityX in USD

 9,995 
(103.99)  1.03%
Market Cap: 1.7 M
 9.55 
0.1% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to generate 0.26 times more return on investment than SingularityX Bitcoin. However, Bitstamp Bitcoin USD is 3.89 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  1,010,206  in Bitstamp Bitcoin USD on August 22, 2019 and sell it today you would lose (2,674)  from holding Bitstamp Bitcoin USD or give up 0.26% of portfolio value over 30 days.

Pair Corralation between Bitstamp Bitcoin and SingularityX Bitcoin

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

Diversification Opportunities for Bitstamp Bitcoin and SingularityX Bitcoin

Bitstamp Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp 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 Bitstamp 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 Bitstamp 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 Bitstamp Bitcoin i.e. Bitstamp Bitcoin and SingularityX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.


 
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