Correlation Analysis Between SingularityX Bitcoin and Coinbase Bitcoin

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

Comparative Performance

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 weak basic indicators, SingularityX Bitcoin may actually be approaching a critical reversion point that can send shares even higher in September 2019.
Coinbase Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of latest weak performance, the Crypto's forward-looking signals remain invariable and the latest agitation on Wall Street may also be a sign of long running gains for the entity management.

SingularityX Bitcoin and Coinbase Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

SingularityX Bitcoin USD  vs.  Coinbase Bitcoin USD

SingularityX

Bitcoin on SingularityX in USD

 10,319 
74.54  0.73%
Market Cap: 18.8 B
  

Coinbase

Bitcoin on Coinbase in USD

 10,182 
0.73  0.0072%
Market Cap: 608.6 B
 136.90 
1.33% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, SingularityX Bitcoin USD is expected to generate 1.56 times more return on investment than Coinbase Bitcoin. However, SingularityX Bitcoin is 1.56 times more volatile than Coinbase Bitcoin USD. It trades about 0.01 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.02 per unit of risk. If you would invest  1,165,203  in SingularityX Bitcoin USD on July 22, 2019 and sell it today you would lose (140,765)  from holding SingularityX Bitcoin USD or give up 12.08% of portfolio value over 30 days.

Pair Corralation between SingularityX Bitcoin and Coinbase Bitcoin

0.56
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for SingularityX Bitcoin and Coinbase Bitcoin

SingularityX Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding SingularityX Bitcoin USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin USD and SingularityX 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 SingularityX Bitcoin USD are associated (or correlated) with Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of SingularityX Bitcoin i.e. SingularityX Bitcoin and Coinbase Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.


 
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