CoinShares Physical Correlations

BITC Etf

CHF 49.93 3.40 7.31%

The current 90-days correlation between CoinShares Physical and 21Shares Ethereum Staking is 0.71 (i.e., Poor diversification). The correlation of CoinShares Physical 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.

CoinShares Physical Correlation With Market

Excellent diversification

The correlation between CoinShares Physical Bitcoin and DJI is -0.53 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CoinShares Physical Bitcoin and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CoinShares Etf

0.98	BTCW	WisdomTree Physical	Pair Corr
0.95	ETHE	CoinShares Physical	Pair Corr
0.87	AXRP	21Shares Ripple XRP	Pair Corr
0.97	ETHW	WisdomTree Ethereum ETC	Pair Corr
0.91	AXLM	21Shares Stellar ETP	Pair Corr

Moving against CoinShares Etf

0.88	XSGI	Xtrackers SP Global	Pair Corr
0.87	IUSP	iShares Property Yield	Pair Corr
0.87	IWDP	iShares Developed Markets	Pair Corr
0.85	AUHEUA	UBS ETF plc	Pair Corr
0.82	FLXK	Franklin FTSE Korea	Pair Corr
0.81	CHCORP	iShares Core CHF	Pair Corr
0.79	JPNY	Amundi Index Solutions	Pair Corr
0.79	PSRW	Invesco FTSE RAFI	Pair Corr
0.78	IJPE	iShares MSCI Japan	Pair Corr
0.76	GLUG	LG Clean Water	Pair Corr
0.76	GCVC	SPDR Refinitiv Global	Pair Corr
0.72	RGLDS	Raiffeisen ETF Solid	Pair Corr
0.71	ZGLDHE	ZKB Gold ETF	Pair Corr
0.69	SPICHA	UBS ETF SPI	Pair Corr
0.69	XSMI	Xtrackers Switzerland	Pair Corr
0.63	CBMDAX	Amundi Index Solutions	Pair Corr
0.59	ESGW	Invesco MSCI World	Pair Corr
0.58	ACWIE	UBS MSCI ACWI	Pair Corr
0.55	IMEA	iShares Core MSCI	Pair Corr
0.54	GGMUSY	UBS ETF plc	Pair Corr
0.35	AWSRIS	UBS ETF plc	Pair Corr
0.92	WCOS	SPDR MSCI World	Pair Corr
0.91	IUES	iShares SP 500	Pair Corr
0.87	EMHD	Invesco FTSE Emerging	Pair Corr
0.86	CSPXJ	iShares VII PLC	Pair Corr
0.84	STSX	SPDR MSCI Europe	Pair Corr
0.83	IKOR	iShares MSCI Korea	Pair Corr
0.81	SHEME	UBSFund Solutions	Pair Corr
0.79	JPHG	Amundi Index Solutions	Pair Corr
0.79	TPXY	Amundi Index Solutions	Pair Corr
0.73	USFMA	UBS ETF plc	Pair Corr
0.71	EMBC	iShares JP Morgan	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.19	-0.21	0.24	0.18	-0.35	-0.04	0.32	0.22	0.28	META
MSFT	-0.19		0.84	-0.63	-0.85	0.8	0.92	0.29	-0.89	-0.94	MSFT
UBER	-0.21	0.84		-0.55	-0.76	0.88	0.75	0.16	-0.8	-0.83	UBER
F	0.24	-0.63	-0.55		0.37	-0.56	-0.45	0.04	0.75	0.68	F
T	0.18	-0.85	-0.76	0.37		-0.64	-0.84	-0.26	0.72	0.74	T
A	-0.35	0.8	0.88	-0.56	-0.64		0.64	0.13	-0.74	-0.83	A
CRM	-0.04	0.92	0.75	-0.45	-0.84	0.64		0.51	-0.79	-0.88	CRM
JPM	0.32	0.29	0.16	0.04	-0.26	0.13	0.51		-0.05	-0.26	JPM
MRK	0.22	-0.89	-0.8	0.75	0.72	-0.74	-0.79	-0.05		0.91	MRK
XOM	0.28	-0.94	-0.83	0.68	0.74	-0.83	-0.88	-0.26	0.91		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

CRM	+ 0.92	MSFT
XOM	+ 0.91	MRK
A	+ 0.88	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
CRM	+ 0.75	UBER

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.89	MSFT
XOM	- 0.88	CRM
T	- 0.85	MSFT
CRM	- 0.84	T
XOM	- 0.83	A

CoinShares Physical Competition Risk-Adjusted Indicators

There is a big difference between CoinShares Etf performing well and CoinShares Physical 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 CoinShares Physical'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	1.53	0.21	0.03	(0.41)	1.51	(1.75)	3.43	(2.81)	13.69
MSFT	1.31	(0.30)	0.00	(0.57)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.22)	0.00	(0.27)	0.00	0.00	2.70	(3.82)	11.09
F	1.25	0.14	0.11	0.26	0.96	(1.56)	3.61	(1.98)	7.50
T	1.04	0.14	0.02	(1.11)	0.99	(1.21)	3.87	(1.76)	7.44
A	1.26	(0.24)	0.00	(0.95)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.78	(0.29)	0.00	(0.14)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.24	(0.13)	(0.03)	0.03	1.76	(1.30)	2.34	(3.11)	8.17
MRK	1.26	0.28	0.17	0.52	1.11	(1.40)	2.81	(2.06)	8.74
XOM	1.29	0.36	0.18	3.96	1.09	(1.50)	2.90	(2.44)	6.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in CoinShares Physical 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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