This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and Yobit Bitcloud USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and Yobit Bitcloud 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 Bitcloud. See also your portfolio center
. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin
and Yobit Bitcloud
LocalBitcoins Bitcoin USD vs Yobit Bitcloud USD
Assuming 30 trading days horizon, LocalBitcoins Bitcoin is expected to generate 1.78 times less return on investment than Yobit Bitcloud. But when comparing it to its historical volatility, LocalBitcoins Bitcoin USD is 2.03 times less risky than Yobit Bitcloud. It trades about 0.14 of its potential returns per unit of risk. Yobit Bitcloud USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 3.30 in Yobit Bitcloud USD on February 19, 2018 and sell it today you would earn a total of 0.26 from holding Yobit Bitcloud USD or generate 7.79% return on investment over 30 days.
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Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and Yobit Bitcloud USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Bitcloud 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 Bitcloud. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Bitcloud USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Yobit Bitcloud 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 9 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.