Correlation Analysis Between LiveCoin Lisk and LocalBitcoins Bitcoin

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

Comparative Performance

LiveCoin Lisk USD  
0

Risk-Adjusted Performance

Over the last 30 days LiveCoin Lisk USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LocalBitcoins Bitcoin USD  
8

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Lisk and LocalBitcoins Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Lisk USD  vs.  LocalBitcoins Bitcoin USD

LiveCoin

Lisk on LiveCoin in USD

 1.13 
0.01  0.89%
Market Cap: 201
  

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 3,588 
(1,069)  22.95%
Market Cap: 95.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Lisk USD is expected to under-perform the LocalBitcoins Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Lisk USD is 5.84 times less risky than LocalBitcoins Bitcoin. The crypto trades about -0.3 of its potential returns per unit of risk. The LocalBitcoins Bitcoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  714,385  in LocalBitcoins Bitcoin USD on November 16, 2018 and sell it today you would lose (355,548)  from holding LocalBitcoins Bitcoin USD or give up 49.77% of portfolio value over 30 days.

Pair Corralation between LiveCoin Lisk and LocalBitcoins Bitcoin

0.53
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Lisk and LocalBitcoins Bitcoin

LiveCoin Lisk USD diversification synergy

Very weak diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
Search macroaxis.com