Amplify Bitcoin Correlations
| BITY Etf | 40.31 0.30 0.75% |
The current 90-days correlation between Amplify Bitcoin 24 and CoinShares Altcoins ETF is 0.67 (i.e., Poor diversification). The correlation of Amplify Bitcoin 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.
Amplify Bitcoin Correlation With Market
Very weak diversification
The correlation between Amplify Bitcoin 24 and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Bitcoin 24 and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Amplify Etf
Moving against Amplify Etf
| 0.69 | MCD | McDonalds | PairCorr |
| 0.61 | AMPD | Tidal ETF Services | PairCorr |
| 0.55 | CPST | Calamos ETF Trust | PairCorr |
| 0.5 | VTV | Vanguard Value Index | PairCorr |
| 0.48 | BND | Vanguard Total Bond Sell-off Trend | PairCorr |
| 0.47 | VEA | Vanguard FTSE Developed | PairCorr |
| 0.34 | SPY | SPDR SP 500 | PairCorr |
| 0.34 | IVV | iShares Core SP | PairCorr |
| 0.32 | ITDD | iShares Trust | PairCorr |
| 0.9 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.86 | JNJ | Johnson Johnson | PairCorr |
| 0.8 | CAT | Caterpillar | PairCorr |
| 0.73 | XOM | Exxon Mobil Corp Aggressive Push | PairCorr |
| 0.71 | AXP | American Express | PairCorr |
| 0.7 | AA | Alcoa Corp Sell-off Trend | PairCorr |
| 0.68 | MMM | 3M Company | PairCorr |
| 0.65 | WMT | Walmart Common Stock | PairCorr |
| 0.65 | BAC | Bank of America | PairCorr |
| 0.63 | TRV | The Travelers Companies | PairCorr |
| 0.61 | IBM | International Business | PairCorr |
| 0.34 | PFE | Pfizer Inc | PairCorr |
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
| High negative correlations
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Amplify Bitcoin Constituents Risk-Adjusted Indicators
There is a big difference between Amplify Etf performing well and Amplify Bitcoin 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 Amplify Bitcoin'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DIME | 4.56 | (1.36) | 0.00 | (1.11) | 0.00 | 8.21 | 36.78 | |||
| DOJE | 4.31 | (1.02) | 0.00 | (0.56) | 0.00 | 8.84 | 23.08 | |||
| MNRS | 4.21 | (0.27) | 0.00 | (0.04) | 0.00 | 8.27 | 23.19 | |||
| VSOL | 4.24 | (0.04) | 0.00 | (0.58) | 0.00 | 9.41 | 18.84 | |||
| EETH | 3.91 | (0.70) | 0.00 | (0.18) | 0.00 | 7.45 | 17.93 | |||
| NCIQ | 2.74 | (0.54) | 0.00 | (0.24) | 0.00 | 4.66 | 14.26 | |||
| NEHI | 2.64 | (0.21) | 0.00 | 8.85 | 0.00 | 6.87 | 8.94 | |||
| ETCO | 3.00 | (0.57) | 0.00 | (0.60) | 0.00 | 4.87 | 15.29 | |||
| ETHA | 3.90 | (0.68) | 0.00 | (0.17) | 0.00 | 7.41 | 17.95 |