Correlation Analysis Between Cexio Bitcoin and LocalBitcoins Bitcoin

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

Comparative Performance

Cexio Bitcoin USD  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Bitcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Cexio Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
LocalBitcoins Bitcoin USD  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, LocalBitcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.

Cexio Bitcoin and LocalBitcoins Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Cexio Bitcoin USD  vs.  LocalBitcoins Bitcoin USD

Cexio

Bitcoin on Cexio in USD

 10,725 
(86.90)  0.80%
Market Cap: 19.8 B
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 11,849 
(1,901)  13.82%
Market Cap: 876.2 M
(1,124)
10.48% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Bitcoin is expected to generate 9.9 times less return on investment than LocalBitcoins Bitcoin. But when comparing it to its historical volatility, Cexio Bitcoin USD is 2.95 times less risky than LocalBitcoins Bitcoin. It trades about 0.04 of its potential returns per unit of risk. LocalBitcoins Bitcoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  968,148  in LocalBitcoins Bitcoin USD on July 21, 2019 and sell it today you would earn a total of  406,867  from holding LocalBitcoins Bitcoin USD or generate 42.03% return on investment over 30 days.

Pair Corralation between Cexio Bitcoin and LocalBitcoins Bitcoin

0.52
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Cexio Bitcoin and LocalBitcoins Bitcoin

Cexio Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Cexio 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 Cexio 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 Cexio 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 Cexio Bitcoin i.e. Cexio Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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