Bitwise Solana Correlations

BSOL Etf

15.51 1.12 6.73%

The current 90-days correlation between Bitwise Solana Staking and Bitwise Chainlink ETF is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bitwise Solana moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bitwise Solana Staking moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bitwise Solana Correlation With Market

Very good diversification

The correlation between Bitwise Solana Staking and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitwise Solana Staking and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Bitwise Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bitwise Solana Staking. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Bitwise Etf

0.72	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.72	BITO	ProShares Bitcoin Downward Rally	Pair Corr
0.74	BTC	Grayscale Bitcoin Mini	Pair Corr
0.71	BTF	Valkyrie Bitcoin Strategy	Pair Corr

Moving against Bitwise Etf

0.56	FNGD	MicroSectors FANG Index	Pair Corr
0.45	CALY	Callaway Golf Symbol Change	Pair Corr
0.37	FB	ProShares Trust ProShares	Pair Corr
0.35	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.31	LUX	Tema Global	Pair Corr
0.58	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.54	TRV	The Travelers Companies	Pair Corr
0.52	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.52	WMT	Walmart Common Stock	Pair Corr
0.41	KO	Coca Cola Aggressive Push	Pair Corr
0.38	AA	Alcoa Corp	Pair Corr
0.31	VZ	Verizon Communications Earnings Call Today	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.31	0.06	0.06	-0.07	-0.27	0.34	-0.03	-0.05	0.04	META
MSFT	0.31		0.75	-0.47	0.48	0.32	0.39	-0.1	-0.81	-0.68	MSFT
UBER	0.06	0.75		-0.45	0.47	0.51	0.07	-0.23	-0.8	-0.52	UBER
F	0.06	-0.47	-0.45		-0.59	-0.33	0.02	0.46	0.64	0.6	F
T	-0.07	0.48	0.47	-0.59		0.61	-0.09	-0.25	-0.46	-0.64	T
A	-0.27	0.32	0.51	-0.33	0.61		-0.13	-0.12	-0.32	-0.52	A
CRM	0.34	0.39	0.07	0.02	-0.09	-0.13		0.62	-0.13	-0.45	CRM
JPM	-0.03	-0.1	-0.23	0.46	-0.25	-0.12	0.62		0.35	-0.05	JPM
MRK	-0.05	-0.81	-0.8	0.64	-0.46	-0.32	-0.13	0.35		0.68	MRK
XOM	0.04	-0.68	-0.52	0.6	-0.64	-0.52	-0.45	-0.05	0.68		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

UBER	+ 0.75	MSFT
XOM	+ 0.68	MRK
MRK	+ 0.64	F
JPM	+ 0.62	CRM
A	+ 0.61	T
XOM	+ 0.6	F

High negative correlations

MRK	- 0.81	MSFT
MRK	- 0.8	UBER
XOM	- 0.68	MSFT
XOM	- 0.64	T
T	- 0.59	F
XOM	- 0.52	A

Bitwise Solana Competition Risk-Adjusted Indicators

There is a big difference between Bitwise Etf performing well and Bitwise Solana 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 Bitwise Solana'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	1.60	(0.03)	(0.01)	0.02	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.24	(0.29)	0.00	(1.12)	0.00	0.00	1.85	(2.70)	4.90
UBER	1.47	(0.24)	0.00	(0.26)	0.00	0.00	2.50	(3.82)	10.23
F	1.47	0.18	0.10	0.52	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.03)	0.00	(0.14)	0.00	0.00	1.63	(1.85)	4.30
A	1.19	(0.22)	0.00	(0.12)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.53	(0.30)	0.00	(0.24)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.11	0.04	(0.01)	(0.50)	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.26	0.30	0.21	0.47	1.14	(1.53)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.18	0.45	0.96	(1.23)	2.38	(1.51)	5.82

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