Correlation Analysis Between SingularityX Bitcoin and Bitfinex Bitcoin

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

Comparative Performance

SingularityX Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days SingularityX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, SingularityX Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Bitfinex Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Bitcoin is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

SingularityX Bitcoin and Bitfinex Bitcoin Volatility Contrast

SingularityX Bitcoin USD  vs.  Bitfinex Bitcoin USD

SingularityX

Bitcoin on SingularityX in USD

 10,311 
0.00  0.00%
Market Cap: 1.7 M
  

Bitfinex

Bitcoin on Bitfinex in USD

 10,325 
0.00  0.00%
Market Cap: 304.6 B
(14.20)
0.14% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,032,500  in Bitfinex Bitcoin USD on August 16, 2019 and sell it today you would earn a total of  0.00  from holding Bitfinex Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between SingularityX Bitcoin and Bitfinex Bitcoin

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

Diversification Opportunities for SingularityX Bitcoin and Bitfinex Bitcoin

SingularityX Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding SingularityX Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex 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 Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of SingularityX Bitcoin i.e. SingularityX Bitcoin and Bitfinex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
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