Correlation Analysis Between Bitstamp Ethereum and Bitfinex SingularDTV

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

Bitstamp Ethereum USD  vs.  Bitfinex SingularDTV USD


Ethereum on Bitstamp in USD

3.60  1.47%
Market Cap: 48.5 M


SingularDTV on Bitfinex in USD

0.00003  0.12%
Market Cap: 296
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to under-perform the Bitfinex SingularDTV. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Ethereum USD is 1.21 times less risky than Bitfinex SingularDTV. The crypto trades about -0.05 of its potential returns per unit of risk. The Bitfinex SingularDTV USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  2.47  in Bitfinex SingularDTV USD on August 23, 2018 and sell it today you would lose (0.04)  from holding Bitfinex SingularDTV USD or give up 1.58% of portfolio value over 30 days.

Pair Corralation between Bitstamp Ethereum and Bitfinex SingularDTV

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitstamp Ethereum USD and Bitfinex SingularDTV USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex SingularDTV USD and Bitstamp 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 Bitstamp Ethereum USD are associated (or correlated) with Bitfinex SingularDTV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex SingularDTV USD has no effect on the direction of Bitstamp Ethereum i.e. Bitstamp Ethereum and Bitfinex SingularDTV go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
Bitstamp Ethereum USD  

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Bitfinex SingularDTV USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex SingularDTV USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.