Correlation Analysis Between LocalBitcoins Bitcoin and Bitfinex SingularDTV

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

LocalBitcoins Bitcoin USD  vs.  Bitfinex SingularDTV USD


Bitcoin on LocalBitcoins in USD

6,163  96.29%
Market Cap: 2.2 B


SingularDTV on Bitfinex in USD

0.00123  4.82%
Market Cap: 296
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 4.7 times more return on investment than Bitfinex SingularDTV. However, LocalBitcoins Bitcoin is 4.7 times more volatile than Bitfinex SingularDTV USD. It trades about 0.17 of its potential returns per unit of risk. Bitfinex SingularDTV USD is currently generating about 0.01 per unit of risk. If you would invest  863,254  in LocalBitcoins Bitcoin USD on August 25, 2018 and sell it today you would earn a total of  111,053  from holding LocalBitcoins Bitcoin USD or generate 12.86% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Bitfinex SingularDTV

Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
LocalBitcoins Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Bitfinex SingularDTV USD  

Risk-Adjusted Performance

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

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