Pair Correlation Between TrustDEX Bitcoin and LocalBitcoins Bitcoin

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

TrustDEX Bitcoin USD  vs.  LocalBitcoins Bitcoin USD

TrustDEX

Bitcoin on TrustDEX in USD
 9,706 
100.10  1.02%
Market Cap: 192.4 B
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 13,956 
1,456  11.65%
Market Cap: 9.2 B
(4,250)
43.78% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TrustDEX Bitcoin USD is expected to under-perform the LocalBitcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, TrustDEX Bitcoin USD is 4.46 times less risky than LocalBitcoins Bitcoin. The crypto trades about -0.03 of its potential returns per unit of risk. The LocalBitcoins Bitcoin USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  1,303,724  in LocalBitcoins Bitcoin USD on March 23, 2018 and sell it today you would earn a total of  91,893  from holding LocalBitcoins Bitcoin USD or generate 7.05% return on investment over 30 days.

Pair Corralation between TrustDEX Bitcoin and LocalBitcoins Bitcoin

0.52
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy96.72%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding TrustDEX 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 TrustDEX 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 TrustDEX 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 TrustDEX Bitcoin i.e. TrustDEX Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
TrustDEX Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days TrustDEX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LocalBitcoins Bitcoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 7 (%) 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
$1072.96

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.