This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and coinfield Bitcoin USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and coinfield 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 coinfield Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin and coinfield Bitcoin.
|Horizon||30 Days Login to change|
|LocalBitcoins Bitcoin USD|
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.
|coinfield Bitcoin USD|
Over the last 30 days coinfield Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather fragile fundamental drivers, coinfield Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.
LocalBitcoins Bitcoin and coinfield Bitcoin Volatility Contrast
LocalBitcoins Bitcoin USD vs. coinfield Bitcoin USD
Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 163.8 times more return on investment than coinfield Bitcoin. However, LocalBitcoins Bitcoin is 163.8 times more volatile than coinfield Bitcoin USD. It trades about 0.71 of its potential returns per unit of risk. coinfield 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 coinfield Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for LocalBitcoins Bitcoin and coinfield Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and coinfield Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield 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 coinfield Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield Bitcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and coinfield Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Idea Breakdown module to analyze constituents of all macroaxis ideas. macroaxis investment ideas are predefined, sector-focused investing themes.