This module allows you to analyze existing cross correlation between SingularityX Bitcoin USD and LiveCoin Bitcoin USD. You can compare the effects of market volatilities on SingularityX Bitcoin and LiveCoin 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 LiveCoin Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of SingularityX Bitcoin and LiveCoin 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 weak basic indicators, SingularityX Bitcoin may actually be approaching a critical reversion point that can send shares even higher in September 2019.
|LiveCoin Bitcoin USD|
Over the last 30 days LiveCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
SingularityX Bitcoin and LiveCoin Bitcoin Volatility Contrast
Predicted Return Density
SingularityX Bitcoin USD vs. LiveCoin Bitcoin USD
Assuming 30 trading days horizon, SingularityX Bitcoin USD is expected to generate 1.82 times more return on investment than LiveCoin Bitcoin. However, SingularityX Bitcoin is 1.82 times more volatile than LiveCoin Bitcoin USD. It trades about 0.01 of its potential returns per unit of risk. LiveCoin 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 (155,423) from holding SingularityX Bitcoin USD or give up 13.34% of portfolio value over 30 days.
Pair Corralation between SingularityX Bitcoin and LiveCoin Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for SingularityX Bitcoin and LiveCoin Bitcoin
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding SingularityX Bitcoin USD and LiveCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin 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 LiveCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Bitcoin USD has no effect on the direction of SingularityX Bitcoin i.e. SingularityX Bitcoin and LiveCoin Bitcoin go up and down completely randomly.
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