Grayscale Bitcoin Correlations

BTC Etf

USD 28.53 0.02 0.07%

The current 90-days correlation between Grayscale Bitcoin Mini and JPMorgan Global Select is 0.46 (i.e., Very weak 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 good diversification

The correlation between Grayscale Bitcoin Mini and DJI is -0.43 (i.e., Very good 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.

Build AI portfolio with Grayscale Etf

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 population.

Moving together with Grayscale Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin Sell-off Trend	Pair Corr
0.61	SPBC	Simplify Equity PLUS	Pair Corr
1.0	BTF	CoinShares Bitcoin and	Pair Corr

Moving against Grayscale Etf

0.82	SEA	US Global Sea	Pair Corr
0.78	FMHI	First Trust Municipal	Pair Corr
0.77	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.77	SCDV	ETF Series Solutions	Pair Corr
0.76	DXJ	WisdomTree Japan Hedged	Pair Corr
0.76	USO	United States Oil	Pair Corr
0.75	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.72	AMPD	Tidal ETF Services	Pair Corr
0.68	ESGD	iShares ESG Aware	Pair Corr
0.66	FEM	First Trust Emerging	Pair Corr
0.64	UEVM	VictoryShares Emerging	Pair Corr
0.63	HEEM	iShares Currency Hedged Low Volatility	Pair Corr
0.63	LALT	Invesco Multi Strategy	Pair Corr
0.63	CFA	VictoryShares 500	Pair Corr
0.61	IAU	iShares Gold Trust Aggressive Push	Pair Corr
0.56	CVMC	Morgan Stanley ETF	Pair Corr
0.53	BIB	ProShares Ultra Nasdaq	Pair Corr
0.51	HCMAX	THE HILLMAN FUND	Pair Corr
0.51	EAFG	Pacer Funds Trust	Pair Corr
0.43	CPST	Calamos ETF Trust	Pair Corr
0.42	ELON	Battleshares TSLA	Pair Corr
0.42	QTAP	Innovator Growth 100	Pair Corr
0.34	ITWO	Proshares Russell 2000	Pair Corr
0.84	VDC	Vanguard Consumer Staples	Pair Corr
0.77	ISTB	iShares Core 1	Pair Corr
0.77	VYMI	Vanguard International	Pair Corr
0.75	STXV	EA Series Trust	Pair Corr
0.75	IYR	iShares Real Estate	Pair Corr
0.74	TAXT	Northern Trust Tax	Pair Corr
0.73	RHRX	Starboard Investment	Pair Corr
0.73	DES	WisdomTree SmallCap	Pair Corr
0.72	DRVN	Driven Brands Holdings	Pair Corr

Related Correlations Analysis

	FIFGX	QQQI	FASIX	BOND	FFVFX	VCRB	FDCAX	EQPGX	JBND	JGLO
FIFGX		0.22	0.88	0.8	0.87	0.75	0.75	0.28	0.68	0.78	FIFGX
QQQI	0.22		0.4	0.1	0.4	0.05	0.73	0.95	-0.03	0.62	QQQI
FASIX	0.88	0.4		0.91	1.0	0.87	0.89	0.44	0.81	0.94	FASIX
BOND	0.8	0.1	0.91		0.91	0.98	0.66	0.18	0.96	0.77	BOND
FFVFX	0.87	0.4	1.0	0.91		0.86	0.89	0.44	0.8	0.95	FFVFX
VCRB	0.75	0.05	0.87	0.98	0.86		0.58	0.14	0.99	0.7	VCRB
FDCAX	0.75	0.73	0.89	0.66	0.89	0.58		0.71	0.48	0.97	FDCAX
EQPGX	0.28	0.95	0.44	0.18	0.44	0.14	0.71		0.08	0.63	EQPGX
JBND	0.68	-0.03	0.81	0.96	0.8	0.99	0.48	0.08		0.62	JBND
JGLO	0.78	0.62	0.94	0.77	0.95	0.7	0.97	0.63	0.62		JGLO
	FIFGX	QQQI	FASIX	BOND	FFVFX	VCRB	FDCAX	EQPGX	JBND	JGLO

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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

FFVFX	+ 1.0	FASIX
JBND	+ 0.99	VCRB
VCRB	+ 0.98	BOND
JGLO	+ 0.97	FDCAX
JBND	+ 0.96	BOND
EQPGX	+ 0.95	QQQI

High negative correlations

JBND

- 0.03

QQQI

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
FIFGX	0.98	0.13	0.04	1.56	1.18	(1.05)	1.75	(1.68)	6.34
QQQI	0.65	(0.02)	(0.04)	0.06	0.92	(0.62)	1.21	(1.70)	4.33
FASIX	0.16	0.03	(0.19)	0.27	0.00	(0.21)	0.35	(0.34)	0.91
BOND	0.14	0.02	(0.39)	0.84	0.00	(0.17)	0.34	(0.28)	0.69
FFVFX	0.23	0.04	(0.07)	0.25	0.00	(0.27)	0.50	(0.48)	1.24
VCRB	0.14	0.02	(0.45)	0.73	0.00	(0.17)	0.28	(0.22)	0.67
FDCAX	0.68	0.05	0.03	0.14	0.81	(0.70)	1.14	(1.58)	3.82
EQPGX	0.73	(0.02)	(0.03)	0.07	1.02	(0.75)	1.32	(1.87)	4.84
JBND	0.14	0.02	(0.42)	0.94	0.00	(0.17)	0.34	(0.24)	0.71
JGLO	0.48	0.02	(0.01)	0.12	0.53	(0.47)	0.80	(0.85)	3.30

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