Grayscale Bitcoin Correlations
| BCHG Stock | USD 6.79 0.88 11.47% |
The current 90-days correlation between Grayscale Bitcoin Cash and Dmg Blockchain Solutions is 0.49 (i.e., Very weak diversification). The correlation of Grayscale 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.
Grayscale Bitcoin Correlation With Market
Very weak diversification
The correlation between Grayscale Bitcoin Cash and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Bitcoin Cash and DJI in the same portfolio, assuming nothing else is changed.
Grayscale |
The ability to find closely correlated positions to Grayscale 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 Grayscale 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 Grayscale 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 Grayscale Bitcoin Cash to buy it.
Moving together with Grayscale OTC Stock
| 0.72 | MS | Morgan Stanley Fiscal Year End 21st of January 2025 | PairCorr |
| 0.61 | GS | Goldman Sachs Group Fiscal Year End 21st of January 2025 | PairCorr |
| 0.7 | SCHW | Charles Schwab Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.75 | GS-PA | Goldman Sachs | PairCorr |
| 0.68 | MS-PA | Morgan Stanley | PairCorr |
| 0.77 | GS-PD | Goldman Sachs | PairCorr |
| 0.75 | NVDA | NVIDIA | PairCorr |
| 0.73 | MRVL | Marvell Technology Earnings Call This Week | PairCorr |
| 0.68 | ADSK | Autodesk | PairCorr |
| 0.65 | STLD | Steel Dynamics Fiscal Year End 28th of January 2025 | PairCorr |
| 0.67 | GM | General Motors Aggressive Push | PairCorr |
| 0.66 | ALAB | Astera Labs, Common | PairCorr |
| 0.62 | ZM | Zoom Video Communications Earnings Call Today | PairCorr |
Moving against Grayscale OTC Stock
| 0.65 | EC | Ecopetrol SA ADR | PairCorr |
| 0.57 | BKRKY | Bank Rakyat | PairCorr |
| 0.53 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.52 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.51 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.5 | AMIX | Autonomix Medical, Common | PairCorr |
| 0.44 | BKRKF | PT Bank Rakyat | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Grayscale OTC Stock performing well and Grayscale Bitcoin OTC Stock 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 Grayscale 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LTCN | 5.76 | 0.50 | 0.13 | 0.29 | 5.31 | 12.68 | 34.07 | |||
| GDLC | 3.15 | 0.85 | 0.39 | 0.43 | 2.00 | 9.53 | 21.89 | |||
| BITW | 2.64 | 0.66 | 0.34 | 0.43 | 1.86 | 7.05 | 15.68 | |||
| ETHE | 3.04 | 0.04 | 0.09 | 0.13 | 2.85 | 7.84 | 17.69 | |||
| DMGGF | 4.73 | (0.43) | (0.02) | 0.00 | 5.08 | 10.34 | 33.64 |
Be your own money manager
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