LocalBitcoins Bitcoin USD vs. Yobit Reddcoin USD
Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 5.01 times more return on investment than Yobit Reddcoin. However, LocalBitcoins Bitcoin is 5.01 times more volatile than Yobit Reddcoin USD. It trades about 0.13 of its potential returns per unit of risk. Yobit Reddcoin USD is currently generating about -0.07 per unit of risk. If you would invest 869,377 in LocalBitcoins Bitcoin USD on May 21, 2018 and sell it today you would lose (57,481) from holding LocalBitcoins Bitcoin USD or give up 6.61% of portfolio value over 30 days.
Pair Corralation between LocalBitcoins Bitcoin and Yobit Reddcoin
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and Yobit Reddcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Reddcoin 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 Reddcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Reddcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Yobit Reddcoin 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 8 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Yobit Reddcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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