This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and Yobit Global Currency Reserve USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and Yobit Global 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 Global. See also your portfolio center
. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin
and Yobit Global
LocalBitcoins Bitcoin USD vs Yobit Global Currency Reserve
Assuming 30 trading days horizon, LocalBitcoins Bitcoin is expected to generate 11.91 times less return on investment than Yobit Global. But when comparing it to its historical volatility, LocalBitcoins Bitcoin USD is 2.05 times less risky than Yobit Global. It trades about 0.02 of its potential returns per unit of risk. Yobit Global Currency Reserve USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 9.10 in Yobit Global Currency Reserve USD on February 16, 2018 and sell it today you would lose (6.50) from holding Yobit Global Currency Reserve USD or give up 71.43% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and Yobit Global Currency Reserve in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Global Currency 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 Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Global Currency has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Yobit Global 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 1 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Global Currency Reserve USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.