Correlation Analysis Between Yobit Ethereum and LocalBitcoins Bitcoin

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

Comparative Performance

Yobit Ethereum Classic  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LocalBitcoins Bitcoin USD  
10

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Yobit Ethereum and LocalBitcoins Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Ethereum Classic USD  vs.  LocalBitcoins Bitcoin USD

Yobit

Ethereum Classic on Yobit in USD

 4.45 
0.00  0.00%
Market Cap: 2 K
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 5,752 
251.57  4.57%
Market Cap: 1.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the LocalBitcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 7.17 times less risky than LocalBitcoins Bitcoin. The crypto trades about -0.41 of its potential returns per unit of risk. The LocalBitcoins Bitcoin USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  632,050  in LocalBitcoins Bitcoin USD on November 19, 2018 and sell it today you would lose (82,050)  from holding LocalBitcoins Bitcoin USD or give up 12.98% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and LocalBitcoins Bitcoin

0.56
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for Yobit Ethereum and LocalBitcoins Bitcoin

Yobit Ethereum Classic USD diversification synergy

Very weak diversification

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

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.


 
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