This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and Yobit Golem Network Token USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and Yobit Golem 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 Golem. See also your portfolio center. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin and Yobit Golem.
LocalBitcoins Bitcoin USD vs. Yobit Golem Network Token USD
Bitcoin on LocalBitcoins in USD
Market Cap: 123.7 M
Golem Network Token on Yobit in USD
Market Cap: 18.0
Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 3.09 times more return on investment than Yobit Golem. However, LocalBitcoins Bitcoin is 3.09 times more volatile than Yobit Golem Network Token USD. It trades about 0.19 of its potential returns per unit of risk. Yobit Golem Network Token USD is currently generating about 0.1 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 257,201 from holding LocalBitcoins Bitcoin USD or generate 40.63% return on investment over 30 days.
Pair Corralation between LocalBitcoins Bitcoin and Yobit Golem
Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and Yobit Golem Network Token USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Golem Network 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 Golem. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Golem Network has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Yobit Golem go up and down completely randomly.
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