Correlation Analysis Between LocalBitcoins Bitcoin and LiveCoin Stratis

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

LocalBitcoins Bitcoin USD  vs.  LiveCoin Stratis USD

LocalBitcoins

Bitcoin on LocalBitcoins in USD
 8,332 
223.51  2.61%
Market Cap: 3 B
  

LiveCoin

Stratis on LiveCoin in USD
 3.45 
0.41  13.49%
Market Cap: 252
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LocalBitcoins Bitcoin USD is expected to generate 4.8 times more return on investment than LiveCoin Stratis. However, LocalBitcoins Bitcoin is 4.8 times more volatile than LiveCoin Stratis USD. It trades about 0.14 of its potential returns per unit of risk. LiveCoin Stratis USD is currently generating about -0.28 per unit of risk. If you would invest  809,270  in LocalBitcoins Bitcoin USD on May 22, 2018 and sell it today you would earn a total of  9,585  from holding LocalBitcoins Bitcoin USD or generate 1.18% return on investment over 30 days.

Pair Corralation between LocalBitcoins Bitcoin and LiveCoin Stratis

0.4
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1160.11

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.