- Margaret -> Madge, Marge, Maggie, Marjorie, Margarethe, Margherita, Greta, Gretchen, Margarita, Rita, Margot, Margo, Molly, ...

- Elizabeth -> Eliza, Liza, Lisa, Liz, Lizzy, Elly, Ellie, Ell, Elle, Elsa, Liesbeth, Lizbeth, Lisbeth, Lizbet, Isabella, Isabel, Isabell, Sabella, Zabel, Bella, Beth, Betty, ...

Yes, was just listing the least intuitive ones.