Correlation Analysis Between SingularityX Dash and DSX Bitcoin

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

Comparative Performance

SingularityX Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days SingularityX Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, SingularityX Dash sustained solid returns over the last few months and may actually be approaching a breakup point.
DSX Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days DSX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat fragile basic indicators, DSX Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

SingularityX Dash and DSX Bitcoin Volatility Contrast

SingularityX Dash USD  vs.  DSX Bitcoin USD

SingularityX

Dash on SingularityX in USD

 98.91 
7.69  8.43%
Market Cap: 20.1 K
  

DSX

Bitcoin on DSX in USD

 10,199 
263.47  2.65%
Market Cap: 220 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, SingularityX Dash USD is expected to generate 3.0 times more return on investment than DSX Bitcoin. However, SingularityX Dash is 3.0 times more volatile than DSX Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. DSX Bitcoin USD is currently generating about 0.71 per unit of risk. If you would invest  9,122  in SingularityX Dash USD on August 20, 2019 and sell it today you would earn a total of  726.00  from holding SingularityX Dash USD or generate 7.96% return on investment over 30 days.

Pair Corralation between SingularityX Dash and DSX Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for SingularityX Dash and DSX Bitcoin

SingularityX Dash USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding SingularityX Dash USD and DSX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DSX Bitcoin USD and SingularityX Dash 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 Dash USD are associated (or correlated) with DSX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DSX Bitcoin USD has no effect on the direction of SingularityX Dash i.e. SingularityX Dash and DSX Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.


 
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