Correlation Analysis Between LocalBitcoins Bitcoin and Coinroom Bitcoin

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

LocalBitcoins Bitcoin USD  vs.  Coinroom Bitcoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 8,016 
514.20  6.03%
Market Cap: 5.4 B
  

Coinroom

Bitcoin on Coinroom in USD
 6,394 
331.63  5.47%
Market Cap: 10.5 B
 1,621 
20.23% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 6.12 times more return on investment than Coinroom Bitcoin. However, LocalBitcoins Bitcoin is 6.12 times more volatile than Coinroom Bitcoin USD. It trades about 0.12 of its potential returns per unit of risk. Coinroom Bitcoin USD is currently generating about -0.05 per unit of risk. If you would invest  695,614  in LocalBitcoins Bitcoin USD on June 15, 2018 and sell it today you would earn a total of  103,076  from holding LocalBitcoins Bitcoin USD or generate 14.82% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Coinroom Bitcoin

0.24
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 Coinroom Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom 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 Coinroom Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom Bitcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Coinroom Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Coinroom Bitcoin USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1188.82

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.