This module allows you to analyze existing cross correlation between Gemini Bitcoin USD and LocalBitcoins Bitcoin USD. You can compare the effects of market volatilities on Gemini 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 Gemini Bitcoin with a short position of LocalBitcoins Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Gemini Bitcoin and LocalBitcoins Bitcoin.
|Horizon||30 Days Login to change|
|Gemini Bitcoin USD|
Over the last 30 days Gemini Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Gemini Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
|LocalBitcoins Bitcoin USD|
Over the last 30 days LocalBitcoins Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LocalBitcoins Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
Gemini Bitcoin and LocalBitcoins Bitcoin Volatility Contrast
Gemini Bitcoin USD vs. LocalBitcoins Bitcoin USD
If you would invest (100.00) in LocalBitcoins Bitcoin USD on September 20, 2019 and sell it today you would earn a total of 100.00 from holding LocalBitcoins Bitcoin USD or generate -100.0% return on investment over 30 days.
Pair Corralation between Gemini Bitcoin and LocalBitcoins Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for Gemini Bitcoin and LocalBitcoins Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding Gemini 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 Gemini 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 Gemini 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 Gemini Bitcoin i.e. Gemini Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.