Correlation Analysis Between SingularityX Bitcoin and Exenium Bitcoin

This module allows you to analyze existing cross correlation between SingularityX Bitcoin USD and Exenium Bitcoin USD. You can compare the effects of market volatilities on SingularityX Bitcoin and Exenium 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 Exenium Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of SingularityX Bitcoin and Exenium 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.
Exenium Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Exenium Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest weak performance, the Crypto's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the entity stakeholders.

SingularityX Bitcoin and Exenium Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

SingularityX Bitcoin USD  vs.  Exenium Bitcoin USD

SingularityX

Bitcoin on SingularityX in USD

 10,126 
(118.38)  1.16%
Market Cap: 18.8 B
  

Exenium

Bitcoin on Exenium in USD

 9,954 
(65.91)  0.66%
Market Cap: 360.9 M
 172.34 
1.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, SingularityX Bitcoin USD is expected to generate 1.61 times more return on investment than Exenium Bitcoin. However, SingularityX Bitcoin is 1.61 times more volatile than Exenium Bitcoin USD. It trades about 0.01 of its potential returns per unit of risk. Exenium 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 Exenium Bitcoin

0.55
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for SingularityX Bitcoin and Exenium 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 Exenium Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exenium 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 Exenium Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exenium Bitcoin USD has no effect on the direction of SingularityX Bitcoin i.e. SingularityX Bitcoin and Exenium Bitcoin go up and down completely randomly.
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