LocalBitcoins Bitcoin USD vs. Yobit Bitcoin USD
Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 13.57 times more return on investment than Yobit Bitcoin. However, LocalBitcoins Bitcoin is 13.57 times more volatile than Yobit Bitcoin USD. It trades about 0.12 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.22 per unit of risk. If you would invest 980,769 in LocalBitcoins Bitcoin USD on May 23, 2018 and sell it today you would lose (169,679) from holding LocalBitcoins Bitcoin USD or give up 17.3% of portfolio value over 30 days.
Pair Corralation between LocalBitcoins Bitcoin and Yobit Bitcoin
|Time Period||1 Month [change]|
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.
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.
Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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