Correlation Analysis Between Exenium Bitcoin and LocalBitcoins Bitcoin

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

Comparative Performance

Exenium Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Exenium Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest weak performance, the Crypto's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the entity stakeholders.
LocalBitcoins Bitcoin USD  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 7 (%) 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.

Exenium Bitcoin and LocalBitcoins Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Exenium Bitcoin USD  vs.  LocalBitcoins Bitcoin USD

Exenium

Bitcoin on Exenium in USD

 9,978 
(41.60)  0.42%
Market Cap: 360.9 M
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 12,706 
(384.79)  2.94%
Market Cap: 876.2 M
(2,728)
27.34% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exenium Bitcoin USD is expected to under-perform the LocalBitcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Exenium Bitcoin USD is 2.92 times less risky than LocalBitcoins Bitcoin. The crypto trades about -0.03 of its potential returns per unit of risk. The LocalBitcoins Bitcoin USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  1,277,988  in LocalBitcoins Bitcoin USD on July 22, 2019 and sell it today you would earn a total of  262,787  from holding LocalBitcoins Bitcoin USD or generate 20.56% return on investment over 30 days.

Pair Corralation between Exenium Bitcoin and LocalBitcoins Bitcoin

0.61
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exenium Bitcoin and LocalBitcoins Bitcoin

Exenium Bitcoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exenium 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 Exenium 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 Exenium 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 Exenium Bitcoin i.e. Exenium Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.


 
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