This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and EXRATES Bitcoin USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and EXRATES 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 EXRATES Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin and EXRATES 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 stable fundamental indicators, LocalBitcoins Bitcoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.
|EXRATES Bitcoin USD|
Over the last 30 days EXRATES Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively fragile forward-looking signals, EXRATES Bitcoin reported solid returns over the last few months and may actually be approaching a breakup point.
LocalBitcoins Bitcoin and EXRATES Bitcoin Volatility Contrast
LocalBitcoins Bitcoin USD vs. EXRATES Bitcoin USD
If you would invest 992,429 in EXRATES Bitcoin USD on August 21, 2019 and sell it today you would earn a total of 24,686 from holding EXRATES Bitcoin USD or generate 2.49% return on investment over 30 days.
Pair Corralation between LocalBitcoins Bitcoin and EXRATES Bitcoin
|Time Period||3 Months [change]|
Diversification Opportunities for LocalBitcoins Bitcoin and EXRATES Bitcoin
Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and EXRATES Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EXRATES 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 EXRATES Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXRATES Bitcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and EXRATES Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.