Correlation Analysis Between LocalBitcoins Bitcoin and LiveCoin LEOcoin

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

LocalBitcoins Bitcoin USD  vs.  LiveCoin LEOcoin USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD

 5,372 
893.24  19.94%
Market Cap: 2.1 B
  

LiveCoin

LEOcoin on LiveCoin in USD

 0.07 
(0.00467)  6.20%
Market Cap: 37.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 5.97 times more return on investment than LiveCoin LEOcoin. However, LocalBitcoins Bitcoin is 5.97 times more volatile than LiveCoin LEOcoin USD. It trades about 0.14 of its potential returns per unit of risk. LiveCoin LEOcoin USD is currently generating about -0.08 per unit of risk. If you would invest  915,000  in LocalBitcoins Bitcoin USD on November 9, 2018 and sell it today you would lose (377,796)  from holding LocalBitcoins Bitcoin USD or give up 41.29% of portfolio value over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and LiveCoin LEOcoin

0.48
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

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 LEOcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin LEOcoin 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 LEOcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin LEOcoin USD has no effect on the direction of LocalBitcoins Bitcoin i.e. LocalBitcoins Bitcoin and LiveCoin LEOcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LocalBitcoins Bitcoin USD  
9

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LocalBitcoins Bitcoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
LiveCoin LEOcoin USD  
0

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

View AllNext
TGT - USA Stock
Target Corporation
Specialization
Consumer, Diversified Wholesale And Retail
RegionNorth America
ExchangeNew York Stock Exchange
$67.81

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 Idea Breakdown module to analyze constituents of all macroaxis ideas. macroaxis investment ideas are predefined, sector-focused investing themes.


 
Search macroaxis.com