This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and Yobit Save and Gain USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and Yobit Save 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 Save. See also your portfolio center
. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin
and Yobit Save
LocalBitcoins Bitcoin USD vs Yobit Save and Gain USD
Assuming 30 trading days horizon, LocalBitcoins Bitcoin is expected to generate 481.14 times less return on investment than Yobit Save. But when comparing it to its historical volatility, LocalBitcoins Bitcoin USD is 11.78 times less risky than Yobit Save. It trades about 0.01 of its potential returns per unit of risk. Yobit Save and Gain USD is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 1.10 in Yobit Save and Gain USD on February 18, 2018 and sell it today you would earn a total of 5.94 from holding Yobit Save and Gain USD or generate 539.55% return on investment 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 Save and Gain USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Save and 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 Save. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Save and has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Yobit Save go up and down completely randomly.
Over the last 30 days LocalBitcoins Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Save and Gain USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.