Correlation Analysis Between LocalBitcoins Bitcoin and Kraken Augur

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

LocalBitcoins Bitcoin USD  vs.  Kraken Augur USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 8,633 
285.27  3.20%
Market Cap: 2.2 B
  

Kraken

Augur on Kraken in USD

 12.50 
0.67  5.09%
Market Cap: 66.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 5.68 times more return on investment than Kraken Augur. However, LocalBitcoins Bitcoin is 5.68 times more volatile than Kraken Augur USD. It trades about 0.12 of its potential returns per unit of risk. Kraken Augur USD is currently generating about -0.33 per unit of risk. If you would invest  863,254  in LocalBitcoins Bitcoin USD on August 26, 2018 and sell it today you would lose (178,377)  from holding LocalBitcoins Bitcoin USD or give up 20.66% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Kraken Augur

0.35
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 Kraken Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Augur 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 Kraken Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Augur USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Kraken Augur go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Kraken Augur USD  
0 

Risk-Adjusted Performance

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

My Equities

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FSM - USA Stock
Fortuna Silver Mines
Fama & French Precious Metals
Precious Metals
Fama & French Classification
LocationBRITISH COLUMBIA CANADA
ExchangeBATS Exchange
$4.37

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.


 
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