21Shares Stellar Correlations

Etfs . Switzerland . 
Etf . 21Shares Stellar ETP
AXLM Etf  USD 7.51  0.17  2.32%   
The current 90-days correlation between 21Shares Stellar ETP and 21Shares Bitcoin Cash is 0.11 (i.e., Average diversification). The correlation of 21Shares Stellar 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 Stellar Correlation With Market

Pay attention - limited upside

The correlation between 21Shares Stellar ETP and DJI is -0.71 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21Shares Stellar ETP and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to 21Shares Stellar 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 Stellar 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 Stellar - 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 Stellar ETP to buy it.

Moving together with 21Shares Etf

  0.92BTCW WisdomTree PhysicalPairCorr
  0.9BITC CoinShares PhysicalPairCorr
  0.95ETHE CoinShares PhysicalPairCorr
  0.88AXRP 21Shares Ripple XRPPairCorr
  0.89ETHW WisdomTree Ethereum ETCPairCorr
  0.97XRPL CoinShares Physical XRPPairCorr

Moving against 21Shares Etf

  0.81IKOR iShares MSCI KoreaPairCorr
  0.79HKOR HSBC MSCI KOREAPairCorr
  0.74ESGO AuAg Gold MiningPairCorr
  0.73AUCO LG Gold MiningPairCorr
  0.73IAUP iShares Gold ProducersPairCorr
  0.72GDXJ VanEck Junior GoldPairCorr
  0.72GGMUSY UBS ETF plcPairCorr
  0.72GDX VanEck Gold MinersPairCorr
  0.63SVUSA UBS ETF SilverPairCorr
  0.84XLIS Invesco IndustrialsPairCorr
  0.83JPHG Amundi Index SolutionsPairCorr
  0.82XMJP Xtrackers MSCI JapanPairCorr
  0.75AUEM Amundi Index SolutionsPairCorr
  0.71SMCX SPDR MSCI EuropePairCorr
  0.71VUKE Vanguard FTSE 100PairCorr
  0.7STWX SPDR MSCI EuropePairCorr
  0.7C50 Amundi Index SolutionsPairCorr
  0.67LYFINW Lyxor MSCI WorldPairCorr
  0.66EMUEUA UBSFund Solutions MSCIPairCorr
  0.63SMHV VanEck SemiconductorPairCorr
  0.62ZSILHC ZKB Silver ETFPairCorr
  0.48USGBPA UBS ETF plcPairCorr
  0.44IUSE iShares SP 500PairCorr
  0.37USEUWH UBS ETF plcPairCorr
  0.88TBIL SPDR Bloomberg 1PairCorr
  0.85PSRW Invesco FTSE RAFIPairCorr
  0.84SXLI SPDR SP IndustrialsPairCorr
  0.82ZGLDEU ZKB Gold ETFPairCorr
  0.82SJPA iShares Core MSCIPairCorr
  0.79IJPN iShares MSCI JapanPairCorr

Related Correlations Analysis


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
+ 0.82
MRK
CRM
+ 0.81
MSFT
UBER
+ 0.8
MSFT
A
+ 0.78
UBER
A
+ 0.71
MSFT
MRK
+ 0.68
F
  

High negative correlations

XOM
- 0.91
MSFT
MRK
- 0.85
MSFT
XOM
- 0.81
CRM
MRK
- 0.8
UBER
XOM
- 0.78
A
CRM
- 0.75
T

21Shares Stellar Competition Risk-Adjusted Indicators

There is a big difference between 21Shares Etf performing well and 21Shares Stellar 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 Stellar'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.51  0.00 (0.02) 0.06  1.53 
(1.82)
 3.43 
(2.82)
 13.69 
MSFT  1.32 (0.36) 0.00 (0.92) 0.00 
 0.00 
 1.90 
(2.74)
 13.28 
UBER  1.50 (0.46) 0.00 (0.90) 0.00 
 0.00 
 2.41 
(3.82)
 11.09 
F  1.22  0.07  0.05  0.14  1.20 
(1.48)
 3.34 
(2.30)
 7.16 
T  1.02  0.23  0.17  3.71  0.77 
(1.19)
 3.87 
(1.54)
 5.31 
A  1.27 (0.30) 0.00 (0.17) 0.00 
 0.00 
 2.90 
(2.73)
 7.85 
CRM  1.68 (0.41) 0.00 (0.35) 0.00 
 0.00 
 2.94 
(4.75)
 12.37 
JPM  1.26 (0.15) 0.00 (0.04) 0.00 
 0.00 
 2.34 
(3.11)
 7.38 
MRK  1.35  0.49  0.35  0.77  0.97 
(1.72)
 3.59 
(1.98)
 8.74 
XOM  1.24  0.36  0.22  1.65  1.11 
(1.42)
 2.68 
(2.12)
 6.83 

Be your own money manager

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