Nicholas Crypto Correlations

BLOX Etf

20.45 0.89 4.55%

The current 90-days correlation between Nicholas Crypto Income and AdvisorShares Gerber Kawasaki is 0.75 (i.e., Poor 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

Very weak diversification

The correlation between Nicholas Crypto Income and DJI is 0.45 (i.e., Very weak 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

0.96	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.96	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.96	BTC	Grayscale Bitcoin Mini	Pair Corr
0.96	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.61	PTIR	GraniteShares 2x Long	Pair Corr
0.76	MSFT	Microsoft	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.83	HD	Home Depot	Pair Corr

Moving against Nicholas Etf

0.4	NUGT	Direxion Daily Gold	Pair Corr
0.39	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.38	JNUG	Direxion Daily Junior	Pair Corr
0.38	AGQ	ProShares Ultra Silver Downward Rally	Pair Corr
0.34	GDXU	MicroSectors Gold Miners	Pair Corr
0.87	TRV	The Travelers Companies Earnings Call This Week	Pair Corr
0.81	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.74	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.71	MRK	Merck Company	Pair Corr
0.69	PFE	Pfizer Inc	Pair Corr
0.69	DD	Dupont De Nemours	Pair Corr
0.61	KO	Coca Cola Sell-off Trend	Pair Corr
0.59	VZ	Verizon Communications	Pair Corr
0.45	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.43	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.43	BAC	Bank of America	Pair Corr
0.37	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.36	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	EGGS	OGSP	ZHDG	HEQQ	MFUL	NBDS	MCSE	IRTR	DIVY	GK
EGGS		-0.77	-0.04	-0.23	0.24	0.79	0.41	-0.27	-0.58	0.57	EGGS
OGSP	-0.77		0.46	0.65	0.32	-0.35	0.09	0.73	0.88	-0.04	OGSP
ZHDG	-0.04	0.46		0.89	0.69	0.5	0.45	0.8	0.64	0.61	ZHDG
HEQQ	-0.23	0.65	0.89		0.72	0.32	0.46	0.89	0.79	0.57	HEQQ
MFUL	0.24	0.32	0.69	0.72		0.62	0.87	0.84	0.6	0.87	MFUL
NBDS	0.79	-0.35	0.5	0.32	0.62		0.64	0.26	-0.08	0.82	NBDS
MCSE	0.41	0.09	0.45	0.46	0.87	0.64		0.62	0.39	0.77	MCSE
IRTR	-0.27	0.73	0.8	0.89	0.84	0.26	0.62		0.9	0.57	IRTR
DIVY	-0.58	0.88	0.64	0.79	0.6	-0.08	0.39	0.9		0.24	DIVY
GK	0.57	-0.04	0.61	0.57	0.87	0.82	0.77	0.57	0.24		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

DIVY	+ 0.9	IRTR
HEQQ	+ 0.89	ZHDG
IRTR	+ 0.89	HEQQ
DIVY	+ 0.88	OGSP
MCSE	+ 0.87	MFUL
GK	+ 0.87	MFUL

High negative correlations

OGSP	- 0.77	EGGS
DIVY	- 0.58	EGGS
NBDS	- 0.35	OGSP
IRTR	- 0.27	EGGS
HEQQ	- 0.23	EGGS
DIVY	- 0.08	NBDS

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	0.99	(0.22)	0.00	(0.20)	0.00	0.00	2.11	(3.20)	7.34
OGSP	0.07	0.01	0.00	(0.22)	0.00	0.00	0.10	(0.30)	1.00
ZHDG	0.43	(0.01)	(0.10)	0.07	0.46	(0.47)	1.04	(0.82)	2.58
HEQQ	0.39	0.00	(0.08)	0.09	0.50	(0.38)	0.92	(1.14)	3.04
MFUL	0.18	(0.02)	(0.31)	0.01	0.22	(0.20)	0.32	(0.37)	1.20
NBDS	1.05	(0.12)	0.00	(0.01)	0.00	0.00	2.30	(2.94)	6.24
MCSE	0.64	(0.07)	(0.08)	0.01	0.81	(0.68)	1.26	(1.40)	3.58
IRTR	0.22	0.00	(0.19)	0.09	0.18	(0.25)	0.46	(0.46)	1.24
DIVY	0.53	0.03	0.00	0.14	0.57	(0.56)	1.15	(1.15)	3.29
GK	0.76	(0.07)	(0.07)	0.01	1.10	(0.74)	1.15	(2.07)	5.15

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