Correlation Analysis Between Ethfinex SingularDTV and Bitfinex Bitcoin

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

Comparative Performance

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 Bitcoin USD  
00

Risk-Adjusted Performance

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 fragile fundamental drivers, Bitfinex Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.

Ethfinex SingularDTV and Bitfinex Bitcoin Volatility Contrast

Ethfinex SingularDTV USD  vs.  Bitfinex Bitcoin USD

Ethfinex

SingularDTV on Ethfinex in USD

 0.008098 
0.00  0.00%
Market Cap: 162
  

Bitfinex

Bitcoin on Bitfinex in USD

 10,215 
(43.04)  0.42%
Market Cap: 304.6 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  988,760  in Bitfinex Bitcoin USD on August 21, 2019 and sell it today you would earn a total of  37,044  from holding Bitfinex Bitcoin USD or generate 3.75% return on investment over 30 days.

Pair Corralation between Ethfinex SingularDTV and Bitfinex Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy66.67%
ValuesDaily Returns

Diversification Opportunities for Ethfinex SingularDTV and Bitfinex Bitcoin

Ethfinex SingularDTV USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Ethfinex SingularDTV USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and Ethfinex SingularDTV 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 Ethfinex SingularDTV USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of Ethfinex SingularDTV i.e. Ethfinex SingularDTV and Bitfinex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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