Tuttle Capital Correlations

BITK Etf

14.47 0.10 0.69%

The current 90-days correlation between Tuttle Capital Bitcoin and Proshares UltraShort Ether is -0.92 (i.e., Pay attention - limited upside). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tuttle Capital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tuttle Capital Bitcoin moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tuttle Capital Correlation With Market

Very good diversification

The correlation between Tuttle Capital Bitcoin and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tuttle Capital Bitcoin and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tuttle Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Tuttle Capital Bitcoin. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Tuttle Etf

0.92	ARKW	ARK Next Generation	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.79	MSFT	Microsoft	Pair Corr

Moving against Tuttle Etf

0.64	EWC	iShares MSCI Canada	Pair Corr
0.52	VTV	Vanguard Value Index	Pair Corr
0.43	VEA	Vanguard FTSE Developed	Pair Corr
0.42	WTMF	WisdomTree Managed	Pair Corr
0.39	OIH	VanEck Oil Services	Pair Corr
0.35	VB	Vanguard Small Cap	Pair Corr
0.8	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.78	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.73	DD	Dupont De Nemours	Pair Corr
0.66	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.63	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.6	MCD	McDonalds Sell-off Trend	Pair Corr
0.53	AA	Alcoa Corp	Pair Corr
0.52	VZ	Verizon Communications Upward Rally	Pair Corr
0.47	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.31	0.06	0.06	-0.07	-0.27	0.34	-0.03	-0.05	0.04	META
MSFT	0.31		0.75	-0.47	0.48	0.32	0.39	-0.1	-0.81	-0.68	MSFT
UBER	0.06	0.75		-0.45	0.47	0.51	0.07	-0.23	-0.8	-0.52	UBER
F	0.06	-0.47	-0.45		-0.59	-0.33	0.02	0.46	0.64	0.6	F
T	-0.07	0.48	0.47	-0.59		0.61	-0.09	-0.25	-0.46	-0.64	T
A	-0.27	0.32	0.51	-0.33	0.61		-0.13	-0.12	-0.32	-0.52	A
CRM	0.34	0.39	0.07	0.02	-0.09	-0.13		0.62	-0.13	-0.45	CRM
JPM	-0.03	-0.1	-0.23	0.46	-0.25	-0.12	0.62		0.35	-0.05	JPM
MRK	-0.05	-0.81	-0.8	0.64	-0.46	-0.32	-0.13	0.35		0.68	MRK
XOM	0.04	-0.68	-0.52	0.6	-0.64	-0.52	-0.45	-0.05	0.68		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	+ 0.75	MSFT
XOM	+ 0.68	MRK
MRK	+ 0.64	F
JPM	+ 0.62	CRM
A	+ 0.61	T
XOM	+ 0.6	F

High negative correlations

MRK	- 0.81	MSFT
MRK	- 0.8	UBER
XOM	- 0.68	MSFT
XOM	- 0.64	T
T	- 0.59	F
XOM	- 0.52	A

Tuttle Capital Competition Risk-Adjusted Indicators

There is a big difference between Tuttle Etf performing well and Tuttle Capital 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 Tuttle Capital'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	1.60	(0.03)	(0.01)	0.02	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.24	(0.29)	0.00	(1.12)	0.00	0.00	1.85	(2.70)	4.90
UBER	1.47	(0.24)	0.00	(0.26)	0.00	0.00	2.50	(3.82)	10.23
F	1.47	0.18	0.10	0.52	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.03)	0.00	(0.14)	0.00	0.00	1.63	(1.85)	4.30
A	1.19	(0.22)	0.00	(0.12)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.53	(0.30)	0.00	(0.24)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.11	0.04	(0.01)	(0.50)	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.26	0.30	0.21	0.47	1.14	(1.53)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.18	0.45	0.96	(1.23)	2.38	(1.51)	5.82

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