This module allows you to analyze existing cross correlation between SingularityX Bitcoin USD and Kraken Bitcoin USD. You can compare the effects of market volatilities on SingularityX Bitcoin and Kraken 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 Kraken Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of SingularityX Bitcoin and Kraken Bitcoin.
|Horizon||30 Days Login to change|
|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 strong basic indicators, SingularityX Bitcoin is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short term losses for the investors.
|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 latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
SingularityX Bitcoin and Kraken Bitcoin Volatility Contrast
Predicted Return Density
SingularityX Bitcoin USD vs. Kraken Bitcoin USD
Assuming 30 trading days horizon, SingularityX Bitcoin USD is expected to generate 1.77 times more return on investment than Kraken Bitcoin. However, SingularityX Bitcoin is 1.77 times more volatile than Kraken Bitcoin USD. It trades about 0.01 of its potential returns per unit of risk. Kraken Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest 1,252,496 in SingularityX Bitcoin USD on July 25, 2019 and sell it today you would lose (248,732) from holding SingularityX Bitcoin USD or give up 19.86% of portfolio value over 30 days.
Pair Corralation between SingularityX Bitcoin and Kraken Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for SingularityX Bitcoin and Kraken Bitcoin
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding SingularityX Bitcoin USD and Kraken Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken 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 Kraken Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Bitcoin USD has no effect on the direction of SingularityX Bitcoin i.e. SingularityX Bitcoin and Kraken Bitcoin go up and down completely randomly.
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