Bitwise Crypto Correlations

Etfs USA . 
Etf . Bitwise Crypto Industry
BITQ Etf  USD 20.76  0.35  1.71%   
The current 90-days correlation between Bitwise Crypto Industry and ProShares Bitcoin Strategy is 0.82 (i.e., Very poor diversification). The correlation of Bitwise Crypto 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.

Bitwise Crypto Correlation With Market

Poor diversification

The correlation between Bitwise Crypto Industry and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitwise Crypto Industry and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bitwise Crypto Industry. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Bitwise Etf

  0.97GBTC Grayscale Bitcoin TrustPairCorr
  0.97BITO ProShares Bitcoin Aggressive PushPairCorr
  0.99BLOK Amplify TransformationalPairCorr
  0.93BLCN Siren Nasdaq NexGenPairCorr
  0.95SPBC Simplify Equity PLUSPairCorr
  1.0DAPP VanEck Digital TransPairCorr
  1.0CRPT First Trust SkyBridgePairCorr
  0.89VTI Vanguard Total StockPairCorr
  0.87SPY SPDR SP 500PairCorr
  0.87IVV iShares Core SPPairCorr
  0.74VTV Vanguard Value IndexPairCorr
  0.91VUG Vanguard Growth Index Sell-off TrendPairCorr
  0.88VO Vanguard Mid CapPairCorr
  0.9VB Vanguard Small CapPairCorr
  0.81PPA Invesco Aerospace DefensePairCorr
  0.88JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.83WMT Walmart Aggressive PushPairCorr
  0.71HPQ HP IncPairCorr
  0.94BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.76INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.89CSCO Cisco SystemsPairCorr
  0.82AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.81AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against Bitwise Etf

  0.8BND Vanguard Total Bond Sell-off TrendPairCorr
  0.7VEA Vanguard FTSE DevelopedPairCorr
  0.9MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.89KO Coca Cola Aggressive PushPairCorr
  0.82JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.62BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.52PG Procter GamblePairCorr

Related Correlations Analysis

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Bitwise Crypto Constituents Risk-Adjusted Indicators

There is a big difference between Bitwise Etf performing well and Bitwise Crypto 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 Bitwise Crypto'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.

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