Correlation Analysis Between LocalBitcoins Bitcoin and SingularityX Bitcoin

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

Comparative Performance

LocalBitcoins Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LocalBitcoins Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly fragile fundamental indicators, LocalBitcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
SingularityX Bitcoin USD  
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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 fragile performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

LocalBitcoins Bitcoin and SingularityX Bitcoin Volatility Contrast

LocalBitcoins Bitcoin USD  vs.  SingularityX Bitcoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 13,685 
2,487  22.21%
Market Cap: 2.5 B
  

SingularityX

Bitcoin on SingularityX in USD

 9,995 
(103.99)  1.03%
Market Cap: 1.7 M
 3,690 
26.96% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 69.81 times more return on investment than SingularityX Bitcoin. However, LocalBitcoins Bitcoin is 69.81 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  1,119,735  in LocalBitcoins Bitcoin USD on August 22, 2019 and sell it today you would earn a total of  804,861  from holding LocalBitcoins Bitcoin USD or generate 71.88% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and SingularityX Bitcoin

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

Diversification Opportunities for LocalBitcoins Bitcoin and SingularityX Bitcoin

LocalBitcoins Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins 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 LocalBitcoins 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 LocalBitcoins 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 LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and SingularityX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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