This module allows you to analyze existing cross correlation between itBit Bitcoin USD and LocalBitcoins Bitcoin USD. You can compare the effects of market volatilities on itBit 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 itBit Bitcoin with a short position of LocalBitcoins Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of itBit Bitcoin and LocalBitcoins Bitcoin.
|Horizon||30 Days Login to change|
|itBit Bitcoin USD|
Over the last 30 days itBit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, itBit 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 weak fundamental indicators, LocalBitcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
itBit Bitcoin and LocalBitcoins Bitcoin Volatility Contrast
itBit Bitcoin USD vs. LocalBitcoins Bitcoin USD
If you would invest 1,011,391 in LocalBitcoins Bitcoin USD on August 23, 2019 and sell it today you would earn a total of 20,509 from holding LocalBitcoins Bitcoin USD or generate 2.03% return on investment over 30 days.
Pair Corralation between itBit Bitcoin and LocalBitcoins Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for itBit Bitcoin and LocalBitcoins Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding itBit 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 itBit 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 itBit 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 itBit Bitcoin i.e. itBit Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.