Correlation Analysis Between LocalBitcoins Bitcoin and Cexio Stellar

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

LocalBitcoins Bitcoin USD  vs.  Cexio Stellar USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 9,800 
949.37  10.73%
Market Cap: 4.6 B
  

Cexio

Stellar on Cexio in USD
 0.20 
0.0056  2.69%
Market Cap: 50.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 6.13 times more return on investment than Cexio Stellar. However, LocalBitcoins Bitcoin is 6.13 times more volatile than Cexio Stellar USD. It trades about 0.14 of its potential returns per unit of risk. Cexio Stellar USD is currently generating about -0.18 per unit of risk. If you would invest  783,974  in LocalBitcoins Bitcoin USD on May 24, 2018 and sell it today you would lose (27,171)  from holding LocalBitcoins Bitcoin USD or give up 3.47% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Cexio Stellar

0.47
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
9 

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.
Cexio Stellar USD  
0 

Risk-Adjusted Performance

Over the last 30 days Cexio Stellar 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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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1169.84

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See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.