Correlation Analysis Between LocalBitcoins Bitcoin and LiveCoin E-Dinar

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

LocalBitcoins Bitcoin USD  vs.  LiveCoin E-Dinar Coin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 10,287 
3,374  48.82%
Market Cap: 3 B
  

LiveCoin

E-Dinar Coin on LiveCoin in USD
 0.0104 
0.00034  3.38%
Market Cap: 684
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 3.41 times more return on investment than LiveCoin E-Dinar. However, LocalBitcoins Bitcoin is 3.41 times more volatile than LiveCoin E-Dinar Coin USD. It trades about 0.12 of its potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about -0.05 per unit of risk. If you would invest  1,273,751  in LocalBitcoins Bitcoin USD on May 19, 2018 and sell it today you would lose (245,093)  from holding LocalBitcoins Bitcoin USD or give up 19.24% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and LiveCoin E-Dinar

0.21
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and LiveCoin E-Dinar Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin E-Dinar Coin and LocalBitcoins Bitcoin 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 LocalBitcoins Bitcoin USD are associated (or correlated) with LiveCoin E-Dinar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin E-Dinar Coin has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and LiveCoin E-Dinar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
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 E-Dinar Coin  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin E-Dinar Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1143.2

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