Correlation Analysis Between LocalBitcoins Bitcoin and Bitstamp Bitcoin

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

Comparative Performance

LocalBitcoins Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LocalBitcoins Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly fragile fundamental indicators, LocalBitcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
Bitstamp Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest fragile 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 and Bitstamp Bitcoin Volatility Contrast

LocalBitcoins Bitcoin USD  vs.  Bitstamp Bitcoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 9,517 
(1,681)  15.01%
Market Cap: 2.5 B
  

Bitstamp

Bitcoin on Bitstamp in USD

 10,005 
(97.48)  0.96%
Market Cap: 1100.9 B
(487.96)
5.13% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 271.51 times more return on investment than Bitstamp Bitcoin. However, LocalBitcoins Bitcoin is 271.51 times more volatile than Bitstamp Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about -0.71 per unit of risk. If you would invest  1,119,735  in LocalBitcoins Bitcoin USD on August 22, 2019 and sell it today you would earn a total of  804,861  from holding LocalBitcoins Bitcoin USD or generate 71.88% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Bitstamp Bitcoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LocalBitcoins Bitcoin and Bitstamp Bitcoin

LocalBitcoins Bitcoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and Bitstamp Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp Bitcoin 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 Bitstamp Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Bitcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Bitstamp Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.


 
Search macroaxis.com