Bitwise 10 Correlations
| BITW Fund | USD 53.89 0.12 0.22% |
The current 90-days correlation between Bitwise 10 Crypto and Grayscale Digital Large is 0.28 (i.e., Modest 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.
Bitwise |
Moving against Bitwise OTC Fund
| 0.61 | LCTIX | Leader Total Return | PairCorr |
| 0.55 | CCLFX | Cliffwater Corporate | PairCorr |
| 0.54 | KF | Korea Closed | PairCorr |
| 0.54 | MSTZX | Massmutual Premier | PairCorr |
| 0.52 | JOF | Japan Smaller Capita | PairCorr |
| 0.51 | ESFAX | Ashmore Emerging Markets | PairCorr |
| 0.48 | DTRIX | Delaware Limited Term | PairCorr |
| 0.47 | CHN | China Fund Normal Trading | PairCorr |
| 0.47 | FSAGX | Gold Portfolio Gold | PairCorr |
| 0.46 | FMNEX | Free Market International | PairCorr |
| 0.45 | LKFIX | Lkcm Fixed Income | PairCorr |
| 0.38 | TMAYX | Touchstone Arbitrage | PairCorr |
| 0.36 | FMY | First Trust Mortgage | PairCorr |
| 0.55 | FAUDX | Strategic Advisers Short | PairCorr |
| 0.55 | GMEPX | Goldman Sachs Asia | PairCorr |
| 0.55 | DFSHX | Dfa Selectively Hedged | PairCorr |
| 0.52 | MSTDX | Massmutual Premier | PairCorr |
| 0.49 | RULFX | Rbc Ultra Short | PairCorr |
| 0.47 | CLGAX | Future Scholar 529 | PairCorr |
| 0.46 | MCSMX | Matthews China Small | PairCorr |
| 0.46 | PHYQX | Prudential High Yield | PairCorr |
| 0.43 | RILFX | American Funds Inflation | PairCorr |
| 0.38 | SSTDX | Saat Servative Strategy | PairCorr |
| 0.38 | EACOX | Eaton Vance Global | PairCorr |
Related Correlations Analysis
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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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GDLC | 2.93 | 0.05 | 0.04 | (0.23) | 3.45 | 5.35 | 13.87 | |||
| ETHE | 3.52 | (0.67) | 0.00 | 2.76 | 0.00 | 6.00 | 27.79 | |||
| LTCN | 5.92 | (0.40) | 0.00 | (0.46) | 0.00 | 10.77 | 50.82 | |||
| BCHG | 4.28 | (0.92) | 0.00 | (2.18) | 0.00 | 8.67 | 32.81 | |||
| GBTC | 2.31 | 0.02 | 0.03 | (0.29) | 2.91 | 4.39 | 12.79 |
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