This module allows you to analyze existing cross correlation between Binance Ethereum USD and SingularityX Ethereum USD. You can compare the effects of market volatilities on Binance Ethereum and SingularityX Ethereum 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 Binance Ethereum with a short position of SingularityX Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Binance Ethereum and SingularityX Ethereum.
|Horizon||30 Days Login to change|
|Binance Ethereum USD|
Over the last 30 days Binance Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Binance Ethereum is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
|SingularityX Ethereum USD|
Over the last 30 days SingularityX Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, SingularityX Ethereum is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Binance Ethereum and SingularityX Ethereum Volatility Contrast
Binance Ethereum USD vs. SingularityX Ethereum USD
If you would invest (100.00) in SingularityX Ethereum USD on August 17, 2019 and sell it today you would earn a total of 100.00 from holding SingularityX Ethereum USD or generate -100.0% return on investment over 30 days.
Pair Corralation between Binance Ethereum and SingularityX Ethereum
|Time Period||3 Months [change]|
Diversification Opportunities for Binance Ethereum and SingularityX Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding Binance Ethereum USD and SingularityX Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SingularityX Ethereum USD and Binance Ethereum 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 Binance Ethereum USD are associated (or correlated) with SingularityX Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SingularityX Ethereum USD has no effect on the direction of Binance Ethereum i.e. Binance Ethereum and SingularityX Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.