Correlation Analysis Between LocalBitcoins Bitcoin and Bitfinex Recovery

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

LocalBitcoins Bitcoin USD  vs.  Bitfinex Recovery Right Tokens

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 9,250 
2,850  44.53%
Market Cap: 2.2 B
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.0411 
0.0061  17.43%
Market Cap: 4.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 5.78 times more return on investment than Bitfinex Recovery. However, LocalBitcoins Bitcoin is 5.78 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.12 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.0 per unit of risk. If you would invest  863,254  in LocalBitcoins Bitcoin USD on August 25, 2018 and sell it today you would lose (223,254)  from holding LocalBitcoins Bitcoin USD or give up 25.86% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Bitfinex Recovery

0.13
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and Bitfinex Recovery Right Tokens in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Recovery Right and LocalBitcoins 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 LocalBitcoins Bitcoin USD are associated (or correlated) with Bitfinex Recovery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Recovery Right has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Bitfinex Recovery go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
7 

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.
Bitfinex Recovery Right  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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