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.
Yobit Global Currency Reserve vs. LocalBitcoins Bitcoin USD
Global Currency Reserve on Yobit in USD
Market Cap: 69.0
Bitcoin on LocalBitcoins in USD
Market Cap: 2.2 B
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
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.
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.
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