Pair Correlation Between Tidex Bitcoin and LocalBitcoins Bitcoin

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

Tidex

Bitcoin on Tidex in USD
 16,768 
0.003971  0.00%
Market Cap: 101.4 K
(11,776)
70.23% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 28,544 
11,088  63.52%
Market Cap: 33.8 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,143,903  in LocalBitcoins Bitcoin USD on November 16, 2017 and sell it today you would earn a total of  1,199,076  from holding LocalBitcoins Bitcoin USD or generate 104.82% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Bitcoin and LocalBitcoins Bitcoin
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.45%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

LocalBitcoins Bitcoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.