Correlation Analysis Between Yobit Global and LocalBitcoins Bitcoin

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

Yobit Global Currency Reserve   vs.  LocalBitcoins Bitcoin USD

Yobit

Global Currency Reserve on Yobit in USD

 0.35 
0.05  17.91%
Market Cap: 69.0
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 7,286 
2,612  26.39%
Market Cap: 2.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Global is expected to generate 1.02 times less return on investment than LocalBitcoins Bitcoin. But when comparing it to its historical volatility, Yobit Global Currency Reserve USD is 1.88 times less risky than LocalBitcoins Bitcoin. It trades about 0.3 of its potential returns per unit of risk. LocalBitcoins Bitcoin USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  863,254  in LocalBitcoins Bitcoin USD on August 27, 2018 and sell it today you would earn a total of  126,592  from holding LocalBitcoins Bitcoin USD or generate 14.66% return on investment over 30 days.

Pair Corralation between Yobit Global and LocalBitcoins Bitcoin

0.06
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Global Currency  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Global Currency Reserve USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.
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.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1166.09

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