Correlation Analysis Between Coinroom Bitcoin and LocalBitcoins Bitcoin

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

Coinroom Bitcoin USD  vs.  LocalBitcoins Bitcoin USD

Coinroom

Bitcoin on Coinroom in USD

 5,521 
5.24  0.09%
Market Cap: 1.9 B
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 6,280 
408.23  6.95%
Market Cap: 1.5 B
(759.21)
13.75% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinroom Bitcoin USD is expected to under-perform the LocalBitcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Coinroom Bitcoin USD is 17.72 times less risky than LocalBitcoins Bitcoin. The crypto trades about -0.29 of its potential returns per unit of risk. The LocalBitcoins Bitcoin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  714,385  in LocalBitcoins Bitcoin USD on October 17, 2018 and sell it today you would lose (86,348)  from holding LocalBitcoins Bitcoin USD or give up 12.09% of portfolio value over 30 days.

Pair Corralation between Coinroom Bitcoin and LocalBitcoins Bitcoin

-0.07
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Coinroom Bitcoin USD diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinroom Bitcoin USD and LocalBitcoins Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LocalBitcoins Bitcoin USD and Coinroom 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 Coinroom Bitcoin USD are associated (or correlated) with LocalBitcoins Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LocalBitcoins Bitcoin USD has no effect on the direction of Coinroom Bitcoin i.e. Coinroom Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinroom Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Coinroom Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Coinroom Bitcoin USD

Pair trading matchups for Coinroom Bitcoin

LocalBitcoins Bitcoin USD  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

LocalBitcoins Bitcoin USD

Pair trading matchups for LocalBitcoins Bitcoin

My Equities

My Current Equities and Potential Positions

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1064.51

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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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