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
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Comparative Performance

Exmo Bitcoin USD  
33

Risk-Adjusted Performance

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  
33

Risk-Adjusted Performance

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 
      Returns 

Exmo Bitcoin USD  vs.  SingularityX Bitcoin USD

Exmo

Bitcoin on Exmo in USD

 10,771 
(56.98)  0.53%
Market Cap: 19.2 B
  

SingularityX

Bitcoin on SingularityX in USD

 10,721 
(63.19)  0.59%
Market Cap: 18.8 B
 49.95 
0.46% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

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

0.57
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Bitcoin and SingularityX Bitcoin

Exmo Bitcoin USD diversification synergy

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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