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|
|Exmo Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Exmo Bitcoin unveiled solid returns over the last few months and may actually be approaching a breakup point.
|SingularityX Bitcoin USD|
Compared to the overall equity markets, risk-adjusted returns on investments in SingularityX Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, SingularityX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Exmo Bitcoin and SingularityX Bitcoin Volatility Contrast
Predicted Return Density
Exmo Bitcoin USD vs. SingularityX Bitcoin USD
Assuming 30 trading days horizon, Exmo Bitcoin is expected to generate 1.87 times less return on investment than SingularityX Bitcoin. But when comparing it to its historical volatility, Exmo Bitcoin USD is 1.66 times less risky than SingularityX Bitcoin. It trades about 0.05 of its potential returns per unit of risk. SingularityX Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 1,041,423 in SingularityX Bitcoin USD on July 21, 2019 and sell it today you would earn a total of 37,045 from holding SingularityX Bitcoin USD or generate 3.56% return on investment over 30 days.
Pair Corralation between Exmo Bitcoin and SingularityX Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Exmo Bitcoin and SingularityX Bitcoin
Very weak diversification
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.
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