Nicholas Crypto Correlations

BLOX Etf

18.46 0.23 1.23%

The current 90-days correlation between Nicholas Crypto Income and AdvisorShares Gerber Kawasaki is 0.06 (i.e., Significant diversification). The correlation of Nicholas 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.

Nicholas Crypto Correlation With Market

Significant diversification

The correlation between Nicholas Crypto Income and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Crypto Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nicholas Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Nicholas Crypto Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Nicholas Etf

0.9	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.9	BITO	ProShares Bitcoin	Pair Corr
0.9	BTC	Grayscale Bitcoin Mini	Pair Corr
0.86	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.73	BCDF	Listed Funds Trust	Pair Corr
0.69	DFEN	Direxion Daily Aerospace	Pair Corr
0.72	HD	Home Depot	Pair Corr

Moving against Nicholas Etf

0.82	MLPR	ETRACS Quarterly Pay	Pair Corr
0.67	MEDI	Harbor Health Care	Pair Corr
0.6	IBTI	iShares iBonds Dec	Pair Corr
0.59	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.52	FIAX	Nicholas Fixed Income	Pair Corr
0.49	KIE	SPDR SP Insurance	Pair Corr
0.47	FELV	Fidelity Covington Trust	Pair Corr
0.44	DIG	ProShares Ultra Oil	Pair Corr
0.43	DGP	DB Gold Double	Pair Corr
0.32	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.78	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.75	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.7	MRK	Merck Company Aggressive Push	Pair Corr
0.7	KO	Coca Cola	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.6	BAC	Bank of America	Pair Corr
0.56	CAT	Caterpillar	Pair Corr
0.52	WMT	Walmart Common Stock	Pair Corr
0.4	IBM	International Business	Pair Corr
0.38	BFEB	Innovator SP 500	Pair Corr
0.34	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	EGGS	OGSP	ZHDG	HEQQ	MFUL	NBDS	MCSE	IRTR	DIVY	GK
EGGS		-0.73	0.01	-0.17	0.66	0.78	0.71	-0.13	-0.38	0.84	EGGS
OGSP	-0.73		0.42	0.62	-0.21	-0.27	-0.5	0.63	0.41	-0.57	OGSP
ZHDG	0.01	0.42		0.89	0.49	0.58	0.11	0.86	0.46	0.29	ZHDG
HEQQ	-0.17	0.62	0.89		0.44	0.41	0.0	0.89	0.52	0.18	HEQQ
MFUL	0.66	-0.21	0.49	0.44		0.82	0.78	0.54	0.27	0.85	MFUL
NBDS	0.78	-0.27	0.58	0.41	0.82		0.58	0.43	-0.05	0.81	NBDS
MCSE	0.71	-0.5	0.11	0.0	0.78	0.58		0.14	0.21	0.79	MCSE
IRTR	-0.13	0.63	0.86	0.89	0.54	0.43	0.14		0.54	0.15	IRTR
DIVY	-0.38	0.41	0.46	0.52	0.27	-0.05	0.21	0.54		0.01	DIVY
GK	0.84	-0.57	0.29	0.18	0.85	0.81	0.79	0.15	0.01		GK
	EGGS	OGSP	ZHDG	HEQQ	MFUL	NBDS	MCSE	IRTR	DIVY	GK

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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

HEQQ	+ 0.89	ZHDG
IRTR	+ 0.89	HEQQ
IRTR	+ 0.86	ZHDG
GK	+ 0.85	MFUL
GK	+ 0.84	EGGS
NBDS	+ 0.82	MFUL

High negative correlations

OGSP	- 0.73	EGGS
GK	- 0.57	OGSP
MCSE	- 0.5	OGSP
DIVY	- 0.38	EGGS
NBDS	- 0.27	OGSP
MFUL	- 0.21	OGSP

Nicholas Crypto Constituents Risk-Adjusted Indicators

There is a big difference between Nicholas Etf performing well and Nicholas 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 Nicholas 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EGGS	1.02	(0.16)	0.00	(0.11)	0.00	0.00	2.14	(3.18)	7.37
OGSP	0.08	0.01	(0.15)	(1.03)	0.00	(0.15)	0.20	(0.10)	0.99
ZHDG	0.44	(0.02)	(0.06)	0.03	0.57	(0.45)	1.02	(0.84)	2.60
HEQQ	0.40	0.01	(0.03)	0.07	0.55	(0.38)	1.01	(1.22)	3.04
MFUL	0.18	(0.02)	(0.23)	(0.02)	0.24	(0.19)	0.37	(0.37)	1.20
NBDS	1.19	(0.08)	(0.03)	0.00	1.89	(1.07)	2.33	(3.53)	6.86
MCSE	0.84	(0.09)	0.00	(0.03)	0.00	0.00	1.26	(1.71)	4.93
IRTR	0.24	0.00	(0.12)	0.05	0.28	(0.25)	0.49	(0.49)	1.40
DIVY	0.56	(0.01)	(0.03)	0.04	0.73	(0.54)	1.04	(1.20)	3.11
GK	0.81	(0.10)	0.00	(0.04)	0.00	0.00	1.59	(2.22)	5.07

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