Pair Correlation Between LocalBitcoins Bitcoin and TrustDEX Bitcoin

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

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 16,590 
(2,455)  12.89%
Market Cap: 4.4 B
 3,801 
22.91% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

TrustDEX

Bitcoin on TrustDEX in USD
 12,789 
(2,391)  15.75%
Market Cap: 703.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin is expected to generate 25.81 times less return on investment than TrustDEX Bitcoin. But when comparing it to its historical volatility, LocalBitcoins Bitcoin USD is 6.85 times less risky than TrustDEX Bitcoin. It trades about 0.05 of its potential returns per unit of risk. TrustDEX Bitcoin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.00  in TrustDEX Bitcoin USD on December 17, 2017 and sell it today you would earn a total of  1,518,000  from holding TrustDEX Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LocalBitcoins Bitcoin and TrustDEX Bitcoin
0.48

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and TrustDEX Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on TrustDEX 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 TrustDEX Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TrustDEX Bitcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and TrustDEX Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

LocalBitcoins Bitcoin USD

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

LocalBitcoins Bitcoin USD

Pair trading matchups for LocalBitcoins Bitcoin

TrustDEX Bitcoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TrustDEX Bitcoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

TrustDEX Bitcoin USD

Pair trading matchups for TrustDEX Bitcoin