Correlation Analysis Between LocalBitcoins Bitcoin and Yobit Ethereum

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

LocalBitcoins Bitcoin USD  vs.  Yobit Ethereum Classic USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 13,105 
7,013  115.13%
Market Cap: 123.7 M
  

Yobit

Ethereum Classic on Yobit in USD

 11.60 
0.30  2.65%
Market Cap: 272
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 12.03 times more return on investment than Yobit Ethereum. However, LocalBitcoins Bitcoin is 12.03 times more volatile than Yobit Ethereum Classic USD. It trades about 0.24 of its potential returns per unit of risk. Yobit Ethereum Classic USD is currently generating about -0.11 per unit of risk. If you would invest  633,100  in LocalBitcoins Bitcoin USD on August 22, 2018 and sell it today you would earn a total of  677,413  from holding LocalBitcoins Bitcoin USD or generate 107.0% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Yobit Ethereum

0.5
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 Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Ethereum Classic 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 Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Ethereum Classic has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Yobit Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.
Yobit Ethereum Classic  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.87

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com