Correlation Analysis Between SingularityX Bitcoin and Kraken Bitcoin

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
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 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  
00

Risk-Adjusted Performance

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 
      Returns 

SingularityX Bitcoin USD  vs.  Kraken Bitcoin USD

SingularityX

Bitcoin on SingularityX in USD

 10,038 
(150.93)  1.48%
Market Cap: 1.8 M
  

Kraken

Bitcoin on Kraken in USD

 10,075 
(67.30)  0.66%
Market Cap: 445.8 B
(37.36)
0.37% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

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

0.5
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for SingularityX Bitcoin and Kraken 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 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.
See also your portfolio center. Please also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.


 
Search macroaxis.com