Correlation Analysis Between LocalBitcoins Bitcoin and P2PB2B Bitcoin

This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and P2PB2B Bitcoin USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and P2PB2B 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 P2PB2B Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin and P2PB2B Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

LocalBitcoins Bitcoin USD  
88

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. Despite nearly weak fundamental indicators, LocalBitcoins Bitcoin layed out solid returns over the last few months and may actually be approaching a breakup point.
P2PB2B Bitcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in P2PB2B Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, P2PB2B Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.

LocalBitcoins Bitcoin and P2PB2B Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

LocalBitcoins Bitcoin USD  vs.  P2PB2B Bitcoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 11,310 
(2,440)  17.75%
Market Cap: 876.2 M
  

P2PB2B

Bitcoin on P2PB2B in USD

 10,779 
12.66  0.12%
Market Cap: 1856.3 B
 531.60 
4.70% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 3.14 times more return on investment than P2PB2B Bitcoin. However, LocalBitcoins Bitcoin is 3.14 times more volatile than P2PB2B Bitcoin USD. It trades about 0.12 of its potential returns per unit of risk. P2PB2B Bitcoin USD is currently generating about 0.05 per unit of risk. If you would invest  968,148  in LocalBitcoins Bitcoin USD on July 21, 2019 and sell it today you would earn a total of  310,628  from holding LocalBitcoins Bitcoin USD or generate 32.08% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and P2PB2B Bitcoin

0.5
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LocalBitcoins Bitcoin and P2PB2B Bitcoin

LocalBitcoins Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and P2PB2B Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B 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 P2PB2B Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Bitcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and P2PB2B Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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