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

LocalBitcoins Bitcoin USD  vs.  Bitstamp Bitcoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 9,227 
158.19  1.69%
Market Cap: 1 B
  

Bitstamp

Bitcoin on Bitstamp in USD

 6,397 
28.13  0.44%
Market Cap: 11.9 B
 2,830 
30.67% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 18.59 times more return on investment than Bitstamp Bitcoin. However, LocalBitcoins Bitcoin is 18.59 times more volatile than Bitstamp Bitcoin USD. It trades about 0.16 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about -0.1 per unit of risk. If you would invest  921,133  in LocalBitcoins Bitcoin USD on September 21, 2018 and sell it today you would earn a total of  17,365  from holding LocalBitcoins Bitcoin USD or generate 1.89% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Bitstamp Bitcoin

0.23
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

LocalBitcoins Bitcoin USD

Pair trading matchups for LocalBitcoins Bitcoin

Bitstamp Bitcoin USD  
0 

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.

Bitstamp Bitcoin USD

Pair trading matchups for Bitstamp Bitcoin

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GOOG - USA Stock
Alphabet
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