21Shares Ethereum Correlations

AETH-USD

USD 36.07 0.07 0.19%

The current 90-days correlation between 21Shares Ethereum Staking and 21Shares Polygon ETP is 0.65 (i.e., Poor diversification). The correlation of 21Shares Ethereum 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.

21Shares Ethereum Correlation With Market

Good diversification

The correlation between 21Shares Ethereum Staking and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21Shares Ethereum Staking and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 21Shares Ethereum could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 21Shares Ethereum 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 21Shares Ethereum - 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 21Shares Ethereum Staking to buy it.

Moving together with 21Shares Etf

0.72	JPNJPA	UBSFund Solutions MSCI	Pair Corr
0.83	VUSA	Vanguard SP 500	Pair Corr
0.86	CSSPX	iShares Core SP	Pair Corr
0.85	IUSA	iShares SP 500	Pair Corr
0.85	BTCW	WisdomTree Physical	Pair Corr
0.97	MOON	Sygnum Platform Winners	Pair Corr
0.93	KEYS	21Shares Bitwise Select	Pair Corr
0.91	ABBA	21Shares Bitcoin Suisse	Pair Corr
0.92	ABCH	21Shares Bitcoin Cash	Pair Corr
0.65	ELCR	Amundi MSCI Future	Pair Corr
0.89	ITEK	HAN GINS Tech	Pair Corr

Moving against 21Shares Etf

0.61	GDIG	VanEck Global Mining	Pair Corr
0.5	EIMI	iShares Core MSCI	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.68	-0.65	-0.64	0.29	0.57	0.52	0.37	-0.12	-0.72	META
MSFT	0.68		-0.5	-0.25	0.53	0.38	0.62	0.3	-0.07	-0.47	MSFT
UBER	-0.65	-0.5		0.66	-0.5	-0.22	-0.75	-0.44	0.54	0.8	UBER
F	-0.64	-0.25	0.66		0.05	-0.3	-0.18	-0.09	0.2	0.91	F
T	0.29	0.53	-0.5	0.05		0.13	0.77	0.48	-0.3	-0.15	T
A	0.57	0.38	-0.22	-0.3	0.13		0.22	0.56	-0.07	-0.32	A
CRM	0.52	0.62	-0.75	-0.18	0.77	0.22		0.6	-0.5	-0.4	CRM
JPM	0.37	0.3	-0.44	-0.09	0.48	0.56	0.6		-0.62	-0.23	JPM
MRK	-0.12	-0.07	0.54	0.2	-0.3	-0.07	-0.5	-0.62		0.26	MRK
XOM	-0.72	-0.47	0.8	0.91	-0.15	-0.32	-0.4	-0.23	0.26		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.91	F
XOM	+ 0.8	UBER
CRM	+ 0.77	T
MSFT	+ 0.68	META
F	+ 0.66	UBER
CRM	+ 0.62	MSFT

High negative correlations

CRM	- 0.75	UBER
XOM	- 0.72	META
UBER	- 0.65	META
F	- 0.64	META
MRK	- 0.62	JPM
MRK	- 0.5	CRM

21Shares Ethereum Competition Risk-Adjusted Indicators

There is a big difference between 21Shares Etf performing well and 21Shares Ethereum ETF 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 21Shares Ethereum'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
META	1.35	0.13	0.05	(1.26)	1.51	(1.52)	3.43	(3.15)	7.43
MSFT	0.96	0.11	0.04	1.84	1.50	(0.95)	2.12	(1.73)	8.14
UBER	1.57	(0.22)	0.00	(2.31)	0.00	0.00	2.67	(5.35)	12.29
F	1.46	(0.12)	0.00	(0.19)	0.00	0.00	2.46	(2.90)	11.21
T	0.98	0.06	0.03	0.20	1.12	(1.06)	1.91	(1.84)	7.96
A	1.20	0.14	0.09	0.33	1.17	(1.40)	2.81	(2.42)	8.06
CRM	1.42	0.22	0.11	0.87	1.47	(1.61)	3.16	(2.88)	14.80
JPM	1.06	0.26	0.18	1.04	1.06	(1.24)	1.92	(1.42)	15.87
MRK	1.00	(0.19)	0.00	(0.99)	0.00	0.00	1.74	(2.17)	5.24
XOM	0.75	(0.14)	0.00	(0.31)	0.00	0.00	1.71	(1.67)	6.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in 21Shares Ethereum 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.

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