21Shares Solana Correlations

ASOL Etf

52.40 1.77 3.27%

The current 90-days correlation between 21Shares Solana staking and iShares Edge MSCI is -0.1 (i.e., Good diversification). The correlation of 21Shares Solana 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 Solana Correlation With Market

Good diversification

The correlation between 21Shares Solana staking and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21Shares Solana staking and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 21Shares Solana 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 Solana 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 Solana - 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 Solana staking to buy it.

Moving together with 21Shares Etf

0.96	BTCW	WisdomTree Physical	Pair Corr
0.86	BITC	CoinShares Physical	Pair Corr
0.95	ETHE	CoinShares Physical	Pair Corr
0.84	AXRP	21Shares Ripple XRP	Pair Corr
0.87	XRPL	CoinShares Physical XRP	Pair Corr

Moving against 21Shares Etf

0.55	GDXJ	VanEck Junior Gold	Pair Corr
0.54	GGMUSY	UBS ETF plc	Pair Corr
0.52	ZSILUS	ZKB Silver ETF	Pair Corr
0.52	AUCO	LG Gold Mining	Pair Corr
0.51	ZSILHC	ZKB Silver ETF	Pair Corr
0.51	SVUSA	UBS ETF Silver	Pair Corr
0.5	ZSIL	ZKB Silver ETF	Pair Corr
0.39	XEOU	Xtrackers MSCI Europe	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.21	-0.28	0.35	0.07	-0.51	0.08	0.24	0.28	0.37	META
MSFT	-0.21		0.72	-0.55	-0.07	0.43	0.56	0.03	-0.79	-0.79	MSFT
UBER	-0.28	0.72		-0.49	0.14	0.55	0.16	-0.16	-0.79	-0.55	UBER
F	0.35	-0.55	-0.49		-0.36	-0.31	-0.06	0.38	0.7	0.65	F
T	0.07	-0.07	0.14	-0.36		0.25	-0.42	-0.21	-0.15	-0.08	T
A	-0.51	0.43	0.55	-0.31	0.25		0.06	-0.05	-0.37	-0.6	A
CRM	0.08	0.56	0.16	-0.06	-0.42	0.06		0.64	-0.24	-0.59	CRM
JPM	0.24	0.03	-0.16	0.38	-0.21	-0.05	0.64		0.25	-0.14	JPM
MRK	0.28	-0.79	-0.79	0.7	-0.15	-0.37	-0.24	0.25		0.7	MRK
XOM	0.37	-0.79	-0.55	0.65	-0.08	-0.6	-0.59	-0.14	0.7		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

UBER	+ 0.72	MSFT
MRK	+ 0.7	F
XOM	+ 0.7	MRK
XOM	+ 0.65	F
JPM	+ 0.64	CRM
CRM	+ 0.56	MSFT

High negative correlations

MRK	- 0.79	UBER
XOM	- 0.79	MSFT
MRK	- 0.79	MSFT
XOM	- 0.6	A
XOM	- 0.59	CRM
XOM	- 0.55	UBER

21Shares Solana Competition Risk-Adjusted Indicators

There is a big difference between 21Shares Etf performing well and 21Shares Solana 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 Solana'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	1.66	(0.15)	0.00	(0.10)	0.00	0.00	3.43	(2.72)	13.36
MSFT	1.26	(0.41)	0.00	(2.17)	0.00	0.00	1.78	(2.74)	13.28
UBER	1.51	(0.33)	0.00	(0.37)	0.00	0.00	2.46	(3.82)	10.23
F	1.23	0.03	0.02	0.07	1.22	(1.48)	3.38	(2.35)	7.16
T	0.95	0.11	0.07	0.54	0.94	(1.05)	2.02	(1.76)	4.31
A	1.21	(0.17)	0.00	(0.09)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.65	(0.40)	0.00	(0.33)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.13	0.00	0.01	0.04	1.63	(1.16)	2.18	(3.11)	7.38
MRK	1.30	0.43	0.30	0.61	1.09	(1.61)	3.59	(1.98)	8.09
XOM	1.14	0.33	0.22	(21.90)	0.99	(1.33)	2.41	(2.11)	5.85

Be your own money manager

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