Valkyrie Bitcoin Correlations

BRRR Etf

28.08 0.28 1.01%

The current 90-days correlation between Valkyrie Bitcoin and Grayscale Bitcoin Trust is 1.0 (i.e., No risk reduction). The correlation of Valkyrie 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.

Valkyrie Bitcoin Correlation With Market

Very weak diversification

The correlation between Valkyrie Bitcoin and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Valkyrie Bitcoin 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 Valkyrie Bitcoin. 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 Valkyrie Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.97	BLOK	Amplify Transformational	Pair Corr
0.92	BLCN	Siren Nasdaq NexGen	Pair Corr
0.97	BITQ	Bitwise Crypto Industry	Pair Corr
0.93	SPBC	Simplify Equity PLUS	Pair Corr
1.0	BTC	Grayscale Bitcoin Mini	Pair Corr
0.96	DAPP	VanEck Digital Trans	Pair Corr
0.96	CRPT	First Trust SkyBridge	Pair Corr
0.82	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.94	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.68	T	ATT Inc Aggressive Push	Pair Corr
0.87	WMT	Walmart Aggressive Push	Pair Corr
0.88	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.72	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.83	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.75	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Moving against Valkyrie Etf

0.49	LUX	Tema ETF Trust	Pair Corr
0.47	VXX	iPath Series B	Pair Corr
0.39	INTL	Main International ETF	Pair Corr
0.32	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.87	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.86	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.66	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	META

Valkyrie Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between Valkyrie Etf performing well and Valkyrie 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 Valkyrie 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
META	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

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