This module allows you to analyze existing cross correlation between LocalBitcoins Bitcoin USD and Yobit Universal Currency USD. You can compare the effects of market volatilities on LocalBitcoins Bitcoin and Yobit Universal 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 Universal. See also your portfolio center. Please also check ongoing floating volatility patterns of LocalBitcoins Bitcoin and Yobit Universal.
LocalBitcoins Bitcoin USD vs. Yobit Universal Currency USD
Bitcoin on LocalBitcoins in USD
Market Cap: 95.1 M
Universal Currency on Yobit in USD
Market Cap: 147
Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 3.3 times more return on investment than Yobit Universal. However, LocalBitcoins Bitcoin is 3.3 times more volatile than Yobit Universal Currency USD. It trades about 0.13 of its potential returns per unit of risk. Yobit Universal Currency USD is currently generating about -0.15 per unit of risk. If you would invest 967,907 in LocalBitcoins Bitcoin USD on November 12, 2018 and sell it today you would lose (499,439) from holding LocalBitcoins Bitcoin USD or give up 51.6% of portfolio value over 30 days.
Pair Corralation between LocalBitcoins Bitcoin and Yobit Universal
Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and Yobit Universal Currency USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Universal Curr 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 Universal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Universal Curr has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and Yobit Universal go up and down completely randomly.
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