Correlation Analysis Between LocalBitcoins Bitcoin and LiveCoin Emercoin

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

Comparative Performance

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 Emercoin USD  
0

Risk-Adjusted Performance

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

LocalBitcoins Bitcoin and LiveCoin Emercoin Volatility Contrast

 Predicted Return Density 
      Returns 

LocalBitcoins Bitcoin USD  vs.  LiveCoin Emercoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 3,744 
(912.83)  19.60%
Market Cap: 95.1 M
  

LiveCoin

Emercoin on LiveCoin in USD

 0.30 
(0.007)  2.30%
Market Cap: 268
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 3.66 times more return on investment than LiveCoin Emercoin. However, LocalBitcoins Bitcoin is 3.66 times more volatile than LiveCoin Emercoin USD. It trades about 0.13 of its potential returns per unit of risk. LiveCoin Emercoin USD is currently generating about -0.2 per unit of risk. If you would invest  714,385  in LocalBitcoins Bitcoin USD on November 16, 2018 and sell it today you would lose (339,972)  from holding LocalBitcoins Bitcoin USD or give up 47.59% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and LiveCoin Emercoin

0.56
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LocalBitcoins Bitcoin and LiveCoin Emercoin

LocalBitcoins Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding LocalBitcoins Bitcoin USD and LiveCoin Emercoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Emercoin USD 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 Emercoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Emercoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and LiveCoin Emercoin 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com