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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

LocalBitcoins Bitcoin USD  vs.  Coinroom ZCoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 11,954 
2,018  20.31%
Market Cap: 3 B
  

Coinroom

ZCoin on Coinroom in USD
 20.89 
1.60  8.29%
Market Cap: 58.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 3.91 times more return on investment than Coinroom ZCoin. However, LocalBitcoins Bitcoin is 3.91 times more volatile than Coinroom ZCoin USD. It trades about 0.12 of its potential returns per unit of risk. Coinroom ZCoin USD is currently generating about -0.16 per unit of risk. If you would invest  980,769  in LocalBitcoins Bitcoin USD on May 23, 2018 and sell it today you would lose (169,679)  from holding LocalBitcoins Bitcoin USD or give up 17.3% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Coinroom ZCoin

0.44
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very 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  
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 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.

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
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