Correlation Analysis Between LiveCoin E-Dinar and LocalBitcoins Bitcoin

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

LiveCoin E-Dinar Coin USD  vs.  LocalBitcoins Bitcoin USD

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00789 
0.00072  8.36%
Market Cap: 39.0
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 6,589 
3,347  33.68%
Market Cap: 123.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar is expected to generate 21.53 times less return on investment than LocalBitcoins Bitcoin. But when comparing it to its historical volatility, LiveCoin E-Dinar Coin USD is 3.08 times less risky than LocalBitcoins Bitcoin. It trades about 0.02 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  881,599  in LocalBitcoins Bitcoin USD on August 23, 2018 and sell it today you would earn a total of  111,978  from holding LocalBitcoins Bitcoin USD or generate 12.7% return on investment over 30 days.

Pair Corralation between LiveCoin E-Dinar and LocalBitcoins Bitcoin

0.19
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin E-Dinar Coin  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 1 (%) 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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