Pair Correlation Between LocalBitcoins Bitcoin and Yobit Bitcoin

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

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 15,939 
2,602  19.51%
Market Cap: 4.4 B
 5,172 
32.45% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Yobit

Bitcoin on Yobit in USD
 10,767 
(1,555)  12.62%
Market Cap: 31.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 3.65 times more return on investment than Yobit Bitcoin. However, LocalBitcoins Bitcoin is 3.65 times more volatile than Yobit Bitcoin USD. It trades about 0.07 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.13 per unit of risk. If you would invest  2,449,702  in LocalBitcoins Bitcoin USD on December 18, 2017 and sell it today you would lose (855,797)  from holding LocalBitcoins Bitcoin USD or give up 34.93% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LocalBitcoins Bitcoin and Yobit Bitcoin
0.56

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LocalBitcoins Bitcoin USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

LocalBitcoins Bitcoin USD

Pair trading matchups for LocalBitcoins Bitcoin

Yobit Bitcoin USD

  
0 

Risk-Adjusted Performance

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

Yobit Bitcoin USD

Pair trading matchups for Yobit Bitcoin