Bitwise 10 Correlations

OTC Funds . USA . 
Fund . Bitwise 10 Crypto
BITW Fund  USD 67.28  4.09  6.47%   
The current 90-days correlation between Bitwise 10 Crypto and Grayscale Digital Large is 0.76 (i.e., Poor diversification). The correlation of Bitwise 10 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 10 Correlation With Market

Good diversification

The correlation between Bitwise 10 Crypto and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitwise 10 Crypto 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 10 Crypto. Also, note that the market value of any otc fund could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Bitwise OTC Fund

  0.7MFD Macquariefirst Tr GlobalPairCorr
  0.9FGB First Trust SpecialtyPairCorr
  0.9VWTKX Tomorrows Scholar CollegePairCorr
  0.73VIEIX Vanguard Extended MarketPairCorr
  0.87LFROX Lord Abbett FloatingPairCorr
  0.75MFIRX Ms Global FixedPairCorr
  0.98BTCFX Bitcoin Strategy Profund Steady GrowthPairCorr
  0.82PQTAX Pimco Trends ManagedPairCorr
  0.68RYIFX Guggenheim ManagedPairCorr
  0.92IFRRX Voya Floating RatePairCorr
  0.79SRDAX Stone Ridge DiversifiedPairCorr
  0.96ADNCX American Beacon ArkPairCorr
  0.9DBFRX Doubleline Floating RatePairCorr
  0.71FISAX Franklin AdjustablePairCorr
  0.78FSMAX Fidelity Extended MarketPairCorr
  0.77TORTX Tortoise Mlp PipelinePairCorr
  0.82BXMYX Blackstone AlternativePairCorr
  0.91PFFRX T Rowe PricePairCorr
  0.9HSUAX Rational Defensive GrowthPairCorr
  0.68FYBTX Fidelity Series ShortPairCorr
  0.97BTCYX Cboe Vest BitcoinPairCorr
  0.88FNCMX Fidelity Nasdaq PositePairCorr
  0.83BXMDX Blackstone AlternativePairCorr
  0.96IIXIX Catalyst Insider IncomePairCorr
  0.79MPHZX Massmutual Premier HighPairCorr
  0.76FHQFX Fidelity Series TreasuryPairCorr
  0.81EGLNX Eagle Mlp StrategyPairCorr
  0.68BTO John Hancock FinancialPairCorr

Moving against Bitwise OTC Fund

  0.31HGLB Highland Global AlloPairCorr

Related Correlations Analysis

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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   
GBTC
+ 0.98
GDLC
ETHE
+ 0.95
GDLC
GBTC
+ 0.92
ETHE
BCHG
+ 0.59
LTCN
LTCN
+ 0.48
ETHE
LTCN
+ 0.44
GDLC
  
High negative correlations   
GBTC
- 0.34
BCHG
BCHG
- 0.26
ETHE
BCHG
- 0.26
GDLC

Risk-Adjusted Indicators

There is a big difference between Bitwise OTC Fund performing well and Bitwise 10 OTC Fund 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 10'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bitwise 10 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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