Bitwise 10 Correlations

OTC Etfs . USA . 
Etf . Bitwise 10 Crypto
BITW Etf  USD 45.62  3.52  8.36%   
The current 90-days correlation between Bitwise 10 Crypto and Grayscale Bitcoin Trust is 0.99 (i.e., No risk reduction). 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

Very good diversification

The correlation between Bitwise 10 Crypto and DJI is -0.39 (i.e., Very 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 etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Bitwise OTC Etf

  0.63NFLX Netflix Aggressive PushPairCorr
  1.0GBTC Grayscale Bitcoin TrustPairCorr

Moving against Bitwise OTC Etf

  0.87DURA VanEck MorningstarPairCorr
  0.86EMLP First Trust NorthPairCorr
  0.85FNGD MicroSectors FANG IndexPairCorr
  0.8FMB First Trust ManagedPairCorr
  0.78IBTJ iShares iBonds DecPairCorr
  0.77FTKI First Trust ExchangePairCorr
  0.76UCON First Trust TCWPairCorr
  0.76ABXB Abacus Flexible Bond Symbol ChangePairCorr
  0.74INR Infinity Natural ResPairCorr
  0.72PID Invesco InternationalPairCorr
  0.71FLSW Franklin FTSE SwitzerlandPairCorr
  0.7JPST JPMorgan Ultra ShortPairCorr
  0.7ADIV SmartETFs Asia PacificPairCorr
  0.69IBTF ISharesPairCorr
  0.67JEPI JPMorgan Equity PremiumPairCorr
  0.65EEM iShares MSCI Emerging Aggressive PushPairCorr
  0.62AFMC First Trust ActivePairCorr
  0.61BAR GraniteShares Gold TrustPairCorr
  0.59WSML iShares MSCI WorldPairCorr
  0.55SNAV Collaborative InvestmentPairCorr
  0.5BNDP Vanguard Core PlusPairCorr
  0.35GJUN First Trust ExchangePairCorr
  0.31FMAY First Trust ExchangePairCorr
  0.87NBET Neuberger Berman EnergyPairCorr
  0.84FXN First Trust EnergyPairCorr
  0.82TPHD Timothy Plan HighPairCorr
  0.82SCHD Schwab Dividend EquityPairCorr
  0.77MMIN IQ MacKay MunicipalPairCorr
  0.76STOT SPDR DoubleLine ShortPairCorr
  0.76NOBL ProShares SP 500PairCorr
  0.76BND Vanguard Total Bond Sell-off TrendPairCorr
  0.74NXG NXG NextGen InfrastrPairCorr
  0.74MEMS Matthews Emerging MarketsPairCorr

Related Correlations Analysis


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
+ 0.91
MSFT
XOM
+ 0.91
MRK
UBER
+ 0.82
MSFT
A
+ 0.81
UBER
A
+ 0.79
MSFT
MRK
+ 0.75
F
  

High negative correlations

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

Bitwise 10 Competition Risk-Adjusted Indicators

There is a big difference between Bitwise OTC Etf performing well and Bitwise 10 OTC 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 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.53  0.09  0.04  0.20  1.51 
(1.75)
 3.43 
(2.81)
 13.69 
MSFT  1.33 (0.33) 0.00 (0.60) 0.00 
 0.00 
 2.19 
(2.87)
 13.28 
UBER  1.61 (0.31) 0.00  0.76  0.00 
 0.00 
 2.46 
(4.25)
 11.09 
F  1.29  0.09  0.07  0.19  1.16 
(1.56)
 3.61 
(2.30)
 7.50 
T  1.04  0.18  0.06 (1.21) 0.94 
(1.20)
 3.87 
(1.76)
 7.44 
A  1.26 (0.33) 0.00 (0.19) 0.00 
 0.00 
 2.90 
(2.72)
 7.85 
CRM  1.74 (0.35) 0.00 (0.21) 0.00 
 0.00 
 3.41 
(4.75)
 12.37 
JPM  1.25 (0.15)(0.05) 0.01  1.79 
(1.31)
 2.34 
(3.11)
 8.17 
MRK  1.22  0.33  0.22  0.58  0.98 
(1.40)
 2.81 
(1.98)
 8.74 
XOM  1.29  0.37  0.19  3.51  1.09 
(1.50)
 2.90 
(2.44)
 6.83 

Be your own money manager

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