Correlation Analysis Between Exmo Bitcoin and LocalBitcoins Bitcoin

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

Exmo Bitcoin USD  vs.  LocalBitcoins Bitcoin USD

Exmo

Bitcoin on Exmo in USD
 8,485 
145.33  1.74%
Market Cap: 24.7 B
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 12,738 
2,392  23.12%
Market Cap: 4 B
(4,253)
50.12% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin USD is expected to under-perform the LocalBitcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Exmo Bitcoin USD is 14.13 times less risky than LocalBitcoins Bitcoin. The crypto trades about -0.07 of its potential returns per unit of risk. The LocalBitcoins Bitcoin USD is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  955,669  in LocalBitcoins Bitcoin USD on April 22, 2018 and sell it today you would earn a total of  78,930  from holding LocalBitcoins Bitcoin USD or generate 8.26% return on investment over 30 days.

Pair Corralation between Exmo Bitcoin and LocalBitcoins Bitcoin

0.24
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exmo 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 Exmo 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 Exmo 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 Exmo Bitcoin i.e. Exmo Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Exmo Bitcoin USD  
0 

Risk-Adjusted Performance

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

Exmo Bitcoin USD

Pair trading matchups for Exmo Bitcoin
LocalBitcoins Bitcoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 9 (%) 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
$1066.36

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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.