Pair Correlation Between Quoine Bitcoin and LocalBitcoins Bitcoin

This module allows you to analyze existing cross correlation between Quoine Bitcoin USD and LocalBitcoins Bitcoin USD. You can compare the effects of market volatilities on Quoine Bitcoin and LocalBitcoins Bitcoin 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 Quoine Bitcoin with a short position of LocalBitcoins Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Quoine Bitcoin and LocalBitcoins Bitcoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Quoine Bitcoin USD  vs.  LocalBitcoins Bitcoin USD

Quoine

Bitcoin on Quoine in USD
 9,031 
468.53  4.93%
Market Cap: 28.1 B
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 8,097 
1,307  13.90%
Market Cap: 7.9 B
 933.98 
10.34% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Quoine Bitcoin is expected to generate 2797.4 times less return on investment than LocalBitcoins Bitcoin. But when comparing it to its historical volatility, Quoine Bitcoin USD is 4.76 times less risky than LocalBitcoins Bitcoin. It trades about 0.0 of its potential returns per unit of risk. LocalBitcoins Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  1,365,328  in LocalBitcoins Bitcoin USD on March 26, 2018 and sell it today you would lose (547,208)  from holding LocalBitcoins Bitcoin USD or give up 40.08% of portfolio value over 30 days.

Pair Corralation between Quoine Bitcoin and LocalBitcoins Bitcoin

0.42
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Quoine Bitcoin USD and LocalBitcoins Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LocalBitcoins Bitcoin USD and Quoine 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 Quoine Bitcoin USD are associated (or correlated) with LocalBitcoins Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LocalBitcoins Bitcoin USD has no effect on the direction of Quoine Bitcoin i.e. Quoine Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Quoine Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Quoine Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LocalBitcoins Bitcoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1021.18

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