Correlation Analysis Between LiveCoin BlueCoin and LocalBitcoins Bitcoin

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

LiveCoin BlueCoin USD  vs.  LocalBitcoins Bitcoin USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.00279 
0.00062  18.18%
Market Cap: 15.0
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 8,241 
1,843  28.80%
Market Cap: 3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to under-perform the LocalBitcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin BlueCoin USD is 1.97 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 0.08 of returns per unit of risk over similar time horizon. If you would invest  1,128,500  in LocalBitcoins Bitcoin USD on May 20, 2018 and sell it today you would lose (488,665)  from holding LocalBitcoins Bitcoin USD or give up 43.3% of portfolio value over 30 days.

Pair Corralation between LiveCoin BlueCoin and LocalBitcoins Bitcoin

0.31
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin BlueCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin BlueCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LocalBitcoins Bitcoin USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1152.26

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See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.