Correlation Analysis Between LocalBitcoins Bitcoin and Yobit Bitcloud

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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

LocalBitcoins Bitcoin USD  vs.  Yobit Bitcloud USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 8,332 
223.51  2.61%
Market Cap: 3 B
  

Yobit

Bitcloud on Yobit in USD
 0.02 
0.005  20.00%
Market Cap: 19.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 5.69 times more return on investment than Yobit Bitcloud. However, LocalBitcoins Bitcoin is 5.69 times more volatile than Yobit Bitcloud USD. It trades about 0.14 of its potential returns per unit of risk. Yobit Bitcloud USD is currently generating about 0.03 per unit of risk. If you would invest  809,270  in LocalBitcoins Bitcoin USD on May 22, 2018 and sell it today you would earn a total of  9,585  from holding LocalBitcoins Bitcoin USD or generate 1.18% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Yobit Bitcloud

0.31
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
9 

Risk-Adjusted Performance

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.
Yobit Bitcloud USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1160.11

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