Grayscale Bitcoin Correlations

BTC Etf

USD 42.16 1.89 4.29%

The current 90-days correlation between Grayscale Bitcoin Mini and ProShares Trust is 0.84 (i.e., Very poor diversification). The correlation of Grayscale 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.

Grayscale Bitcoin Correlation With Market

Very weak diversification

The correlation between Grayscale Bitcoin Mini and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Bitcoin Mini 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 Grayscale Bitcoin Mini. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Grayscale 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
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 Aggressive Push	Pair Corr
0.68	T	ATT Inc Sell-off Trend	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 Grayscale Etf

0.49	LUX	Tema ETF Trust	Pair Corr
0.47	VXX	iPath Series B Potential Growth	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 Fiscal Year End 28th of January 2025	Pair Corr
0.66	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	EETH	ETHA	ETHD	ETHE	ETHT	ETHU	ETHV	ETHW	EZBC
EETH		1.0	-0.97	1.0	1.0	0.99	1.0	1.0	0.92	EETH
ETHA	1.0		-0.97	1.0	0.99	0.99	1.0	1.0	0.93	ETHA
ETHD	-0.97	-0.97		-0.97	-0.95	-0.93	-0.97	-0.97	-0.95	ETHD
ETHE	1.0	1.0	-0.97		1.0	0.99	1.0	1.0	0.92	ETHE
ETHT	1.0	0.99	-0.95	1.0		1.0	0.99	0.99	0.91	ETHT
ETHU	0.99	0.99	-0.93	0.99	1.0		0.99	0.99	0.88	ETHU
ETHV	1.0	1.0	-0.97	1.0	0.99	0.99		1.0	0.93	ETHV
ETHW	1.0	1.0	-0.97	1.0	0.99	0.99	1.0		0.93	ETHW
EZBC	0.92	0.93	-0.95	0.92	0.91	0.88	0.93	0.93		EZBC
	EETH	ETHA	ETHD	ETHE	ETHT	ETHU	ETHV	ETHW	EZBC

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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

ETHA	+ 1.0	EETH
ETHE	+ 1.0	EETH
ETHT	+ 1.0	EETH
ETHV	+ 1.0	EETH
ETHW	+ 1.0	EETH
ETHE	+ 1.0	ETHA

High negative correlations

ETHW	- 0.97	ETHD
ETHV	- 0.97	ETHD
ETHE	- 0.97	ETHD
ETHD	- 0.97	ETHA
ETHD	- 0.97	EETH
EZBC	- 0.95	ETHD

Grayscale Bitcoin Constituents Risk-Adjusted Indicators

There is a big difference between Grayscale Etf performing well and Grayscale 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 Grayscale 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
EETH	3.12	0.02	0.09	0.13	2.94	(3.61)	7.77	(4.70)	18.40
ETHA	3.08	0.05	0.10	0.14	2.86	(3.59)	7.78	(4.67)	17.89
ETHD	6.07	(0.16)	0.00	0.15	0.00	0.00	9.08	(15.63)	40.82
ETHE	3.04	0.04	0.09	0.13	2.85	(3.54)	7.84	(4.77)	17.69
ETHT	6.16	0.14	0.12	0.14	5.70	(7.20)	15.92	(8.93)	36.37
ETHU	6.20	0.03	0.11	0.12	5.95	(7.39)	15.70	(9.21)	36.37
ETHV	3.10	0.05	0.10	0.14	2.89	(3.62)	7.71	(4.77)	18.08
ETHW	3.04	0.05	0.10	0.14	2.88	(3.56)	7.74	(4.70)	17.95
EZBC	2.50	0.51	0.28	0.34	1.91	(2.88)	5.84	(3.38)	15.76

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