Correlation Analysis Between LocalBitcoins Bitcoin and CCEX Dogecoin

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

LocalBitcoins Bitcoin USD  vs.  CCEX Dogecoin USD


Bitcoin on LocalBitcoins in USD

893.24  19.94%
Market Cap: 2.1 B


Dogecoin on CCEX in USD

(0.000012)  0.55%
Market Cap: 7.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 4.81 times more return on investment than CCEX Dogecoin. However, LocalBitcoins Bitcoin is 4.81 times more volatile than CCEX Dogecoin USD. It trades about 0.14 of its potential returns per unit of risk. CCEX Dogecoin USD is currently generating about -0.22 per unit of risk. If you would invest  915,000  in LocalBitcoins Bitcoin USD on November 9, 2018 and sell it today you would lose (377,796)  from holding LocalBitcoins Bitcoin USD or give up 41.29% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and CCEX Dogecoin

Time Period2 Months [change]
ValuesDaily Returns


LocalBitcoins Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and CCEX Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX Dogecoin 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 CCEX Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX Dogecoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and CCEX Dogecoin 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 9 (%) of all global equities and portfolios over the last 30 days.
CCEX Dogecoin USD  

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

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TGT - USA Stock
Target Corporation
Consumer, Diversified Wholesale And Retail
RegionNorth America
ExchangeNew York Stock Exchange

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