Athena Bitcoin Correlations
| ABIT Stock | USD 0.1 0.01 13.64% |
The current 90-days correlation between Athena Bitcoin Global and Argo Blockchain PLC is 0.17 (i.e., Average diversification). The correlation of Athena Bitcoin is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Athena Bitcoin Correlation With Market
Very weak diversification
The correlation between Athena Bitcoin Global and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Athena Bitcoin Global and DJI in the same portfolio, assuming nothing else is changed.
Athena |
The ability to find closely correlated positions to Athena Bitcoin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Athena Bitcoin when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Athena Bitcoin - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Athena Bitcoin Global to buy it.
Moving together with Athena Pink Sheet
| 0.7 | MS | Morgan Stanley Fiscal Year End 21st of January 2025 | PairCorr |
| 0.8 | GS | Goldman Sachs Group Fiscal Year End 21st of January 2025 | PairCorr |
| 0.68 | SCHW | Charles Schwab Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.85 | CGXYY | China Galaxy Securities | PairCorr |
| 0.69 | IBKR | Interactive Brokers Fiscal Year End 21st of January 2025 | PairCorr |
| 0.74 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.63 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.64 | CVX | Chevron Corp Sell-off Trend | PairCorr |
Moving against Athena Pink Sheet
| 0.73 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.69 | PBCRY | Bank Central Asia | PairCorr |
| 0.66 | BKRKY | Bank Rakyat | PairCorr |
| 0.6 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.6 | PTBRY | Bank Negara Indonesia | PairCorr |
| 0.5 | PBCRF | PT Bank Central | PairCorr |
| 0.47 | SHG | Shinhan Financial | PairCorr |
| 0.45 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.44 | WF | Woori Financial Group | PairCorr |
| 0.79 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.62 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.51 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Athena Pink Sheet performing well and Athena Bitcoin Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Athena Bitcoin's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ARBK | 4.81 | (0.56) | 0.00 | (0.04) | 0.00 | 10.71 | 25.44 | |||
| DMGGF | 4.73 | (0.51) | 0.00 | (0.04) | 0.00 | 10.34 | 33.64 | |||
| APPCF | 0.30 | 0.14 | 0.00 | (15.55) | 0.00 | 0.00 | 10.00 | |||
| ARCNF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SPNNF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| OZFRY | 1.99 | 0.96 | 0.00 | 3.27 | 0.00 | 0.00 | 66.59 | |||
| EBML | 13.57 | 1.02 | 0.03 | 4.63 | 15.74 | 33.33 | 150.00 | |||
| MATEF | 8.01 | 3.16 | 0.00 | 5.20 | 0.00 | 33.10 | 118.61 | |||
| AAMTF | 1.29 | (0.18) | 0.00 | 0.47 | 0.00 | 0.00 | 37.50 | |||
| BCNWF | 9.64 | 1.63 | 0.15 | 0.48 | 8.33 | 33.65 | 74.19 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Athena Bitcoin without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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