Correlation Analysis Between LocalBitcoins Bitcoin and Coinroom ZCoin

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

LocalBitcoins Bitcoin USD  vs.  Coinroom ZCoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 9,730 
168.37  1.70%
Market Cap: 2.2 B
  

Coinroom

ZCoin on Coinroom in USD

 8.30 
1.36  14.08%
Market Cap: 164.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 3.92 times more return on investment than Coinroom ZCoin. However, LocalBitcoins Bitcoin is 3.92 times more volatile than Coinroom ZCoin USD. It trades about 0.16 of its potential returns per unit of risk. Coinroom ZCoin USD is currently generating about -0.18 per unit of risk. If you would invest  863,254  in LocalBitcoins Bitcoin USD on August 27, 2018 and sell it today you would earn a total of  126,592  from holding LocalBitcoins Bitcoin USD or generate 14.66% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Coinroom ZCoin

0.34
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Risk-Adjusted Performance

Over the last 30 days Coinroom ZCoin 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
$1166.09

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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.


 
Search macroaxis.com