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
Tidex Bitcoin USD vs LocalBitcoins Bitcoin USD
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.
|Time Period||1 Month [change]|
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.
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.