This module allows you to analyze existing cross correlation between Exmo Ethereum USD and SingularityX Ethereum USD. You can compare the effects of market volatilities on Exmo 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 Exmo Ethereum with a short position of SingularityX Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo Ethereum and SingularityX Ethereum.
|Horizon||30 Days Login to change|
|Exmo Ethereum USD|
Over the last 30 days Exmo Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively fragile essential indicators, Exmo Ethereum unveiled solid returns over the last few months and may actually be approaching a breakup point.
|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.
Exmo Ethereum and SingularityX Ethereum Volatility Contrast
Exmo Ethereum USD vs. SingularityX Ethereum USD
If you would invest 19,971 in Exmo Ethereum USD on August 18, 2019 and sell it today you would earn a total of 1,129 from holding Exmo Ethereum USD or generate 5.65% return on investment over 30 days.
Pair Corralation between Exmo Ethereum and SingularityX Ethereum
|Time Period||3 Months [change]|
Diversification Opportunities for Exmo Ethereum and SingularityX Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding Exmo 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 Exmo 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 Exmo 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 Exmo Ethereum i.e. Exmo Ethereum and SingularityX Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.