This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and Tidex Bitcoin USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and Tidex 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 Tidex Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin
and Tidex Bitcoin
LocalBitcoins Bitcoin USD vs Tidex Bitcoin USD
If you would invest 2,286,887 in LocalBitcoins Bitcoin USD on December 22, 2017 and sell it today you would earn a total of 133,120 from holding LocalBitcoins Bitcoin USD or generate 5.82% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and Tidex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Tidex 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 Tidex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tidex Bitcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Tidex Bitcoin go up and down completely randomly.
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.