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.
 Time Horizon     30 Days    Login   to change

LocalBitcoins Bitcoin USD  vs.  Yobit Ethereum Classic USD


Bitcoin on LocalBitcoins in USD
1,431  22.36%
Market Cap: 3 B


Ethereum Classic on Yobit in USD
0.28  1.82%
Market Cap: 440 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 7.43 times more return on investment than Yobit Ethereum. However, LocalBitcoins Bitcoin is 7.43 times more volatile than Yobit Ethereum Classic USD. It trades about 0.15 of its potential returns per unit of risk. Yobit Ethereum Classic USD is currently generating about -0.07 per unit of risk. If you would invest  1,128,500  in LocalBitcoins Bitcoin USD on May 20, 2018 and sell it today you would earn a total of  44,954  from holding LocalBitcoins Bitcoin USD or generate 3.98% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and Yobit Ethereum

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest 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 
LocalBitcoins Bitcoin USD  

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 Ethereum Classic  

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.

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