This module allows you to analyze existing cross correlation between Kraken Bitcoin USD and SingularityX Bitcoin USD. You can compare the effects of market volatilities on Kraken 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 Kraken Bitcoin with a short position of SingularityX Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Bitcoin and SingularityX Bitcoin.
|Horizon||30 Days Login to change|
|Kraken Bitcoin USD|
Over the last 30 days Kraken Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, Kraken Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
|SingularityX Bitcoin USD|
Over the last 30 days SingularityX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, SingularityX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Kraken Bitcoin and SingularityX Bitcoin Volatility Contrast
Kraken Bitcoin USD vs. SingularityX Bitcoin USD
Assuming 30 trading days horizon, Kraken Bitcoin USD is expected to generate 0.91 times more return on investment than SingularityX Bitcoin. However, Kraken Bitcoin USD is 1.1 times less risky than SingularityX Bitcoin. It trades about 0.71 of its potential returns per unit of risk. SingularityX Bitcoin USD is currently generating about 0.41 per unit of risk. If you would invest 989,560 in Kraken Bitcoin USD on August 21, 2019 and sell it today you would earn a total of 28,640 from holding Kraken Bitcoin USD or generate 2.89% return on investment over 30 days.
Pair Corralation between Kraken Bitcoin and SingularityX Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for Kraken Bitcoin and SingularityX Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Kraken 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 Kraken 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 Kraken 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 Kraken Bitcoin i.e. Kraken Bitcoin and SingularityX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.