Correlation Analysis Between Exmo Bitcoin and SingularityX Bitcoin

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

Comparative Performance

Exmo Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unchanging essential indicators, Exmo Bitcoin is not utilizing all of its potentials. The prevalent stock price uproar, may contribute to short horizon losses for the leadership.
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 somewhat strong basic indicators, SingularityX Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

Exmo Bitcoin and SingularityX Bitcoin Volatility Contrast

Exmo Bitcoin USD  vs.  SingularityX Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 10,100 
13.10  0.13%
Market Cap: 42 B
  

SingularityX

Bitcoin on SingularityX in USD

 9,854 
(12.55)  0.13%
Market Cap: 1.7 M
 246.07 
2.44% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to generate 2.12 times more return on investment than SingularityX Bitcoin. However, Exmo Bitcoin is 2.12 times more volatile than SingularityX Bitcoin USD. 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  1,008,690  in Exmo Bitcoin USD on August 20, 2019 and sell it today you would earn a total of  1,310  from holding Exmo Bitcoin USD or generate 0.13% return on investment over 30 days.

Pair Corralation between Exmo Bitcoin and SingularityX Bitcoin

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

Diversification Opportunities for Exmo Bitcoin and SingularityX Bitcoin

Exmo Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo 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 Exmo 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 Exmo 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 Exmo Bitcoin i.e. Exmo Bitcoin and SingularityX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of macroaxis ideas.


 
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