Correlation Analysis Between Ethfinex SingularDTV and Coinbase Bitcoin

This module allows you to analyze existing cross correlation between Ethfinex SingularDTV USD and Coinbase Bitcoin USD. You can compare the effects of market volatilities on Ethfinex SingularDTV and Coinbase 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 Coinbase Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Ethfinex SingularDTV and Coinbase 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.
Coinbase Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively weak forward-looking signals, Coinbase Bitcoin reported solid returns over the last few months and may actually be approaching a breakup point.

Ethfinex SingularDTV and Coinbase Bitcoin Volatility Contrast

Ethfinex SingularDTV USD  vs.  Coinbase Bitcoin USD

Ethfinex

SingularDTV on Ethfinex in USD

 0.008098 
0.00  0.00%
Market Cap: 162
  

Coinbase

Bitcoin on Coinbase in USD

 10,247 
380.49  3.86%
Market Cap: 1386.9 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  986,671  in Coinbase Bitcoin USD on August 20, 2019 and sell it today you would earn a total of  39,578  from holding Coinbase Bitcoin USD or generate 4.01% return on investment over 30 days.

Pair Corralation between Ethfinex SingularDTV and Coinbase Bitcoin

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

Diversification Opportunities for Ethfinex SingularDTV and Coinbase 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 Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase 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 Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of Ethfinex SingularDTV i.e. Ethfinex SingularDTV and Coinbase Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Headlines Timeline module to stay connected to all market stories and filter out noise. drill down to analyze hype elasticity.


 
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