Yobit Bitcoin USD vs. LocalBitcoins Bitcoin USD
Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to under-perform the LocalBitcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Bitcoin USD is 13.57 times less risky than LocalBitcoins Bitcoin. The crypto trades about -0.22 of its potential returns per unit of risk. The LocalBitcoins Bitcoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 980,769 in LocalBitcoins Bitcoin USD on May 23, 2018 and sell it today you would lose (169,679) from holding LocalBitcoins Bitcoin USD or give up 17.3% of portfolio value over 30 days.
Pair Corralation between Yobit Bitcoin and LocalBitcoins Bitcoin
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit 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 Yobit 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 Yobit 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 Yobit Bitcoin i.e. Yobit Bitcoin and LocalBitcoins Bitcoin go up and down completely randomly.
Over the last 30 days Yobit 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 LocalBitcoins Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
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