Correlation Analysis Between EXRATES Ethereum and SingularityX Ethereum

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

Comparative Performance

EXRATES Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of weak performance in the last few months, the Crypto's forward-looking signals remain relatively invariable which may send shares a bit higher in October 2019. The latest agitation may also be a sign of long running up-swing for the entity management.
SingularityX Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days SingularityX Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

EXRATES Ethereum and SingularityX Ethereum Volatility Contrast

EXRATES Ethereum USD  vs.  SingularityX Ethereum USD

EXRATES

Ethereum on EXRATES in USD

 189.90 
(4.35)  2.24%
Market Cap: 58.7 M
  

SingularityX

Ethereum on SingularityX in USD

 189.58 
(5.03)  2.58%
Market Cap: 15.7 M
 0.32 
0.17% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Ethereum USD is expected to generate 0.87 times more return on investment than SingularityX Ethereum. However, EXRATES Ethereum USD is 1.15 times less risky than SingularityX Ethereum. It trades about -0.71 of its potential returns per unit of risk. SingularityX Ethereum USD is currently generating about -0.71 per unit of risk. If you would invest  19,425  in EXRATES Ethereum USD on August 17, 2019 and sell it today you would lose (434.90)  from holding EXRATES Ethereum USD or give up 2.24% of portfolio value over 30 days.

Pair Corralation between EXRATES Ethereum and SingularityX Ethereum

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

Diversification Opportunities for EXRATES Ethereum and SingularityX Ethereum

EXRATES Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding EXRATES 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 EXRATES 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 EXRATES 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 EXRATES Ethereum i.e. EXRATES Ethereum and SingularityX Ethereum go up and down completely randomly.
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