Grayscale Bitcoin Correlations

BTC Etf

USD 37.08 0.09 0.24%

The current 90-days correlation between Grayscale Bitcoin Mini and JPMorgan Global Select is 0.38 (i.e., 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 -0.22 (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 various price indices.

Moving together with Grayscale Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin	Pair Corr
0.99	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.74	MSFT	Microsoft	Pair Corr

Moving against Grayscale Etf

0.52	GDMN	WisdomTree Efficient Gold	Pair Corr
0.5	NUGT	Direxion Daily Gold	Pair Corr
0.5	SIL	Global X Silver	Pair Corr
0.49	JNUG	Direxion Daily Junior	Pair Corr
0.46	GDXU	MicroSectors Gold Miners	Pair Corr
0.44	SHNY	Microsectors Gold	Pair Corr
0.4	AGQ	ProShares Ultra Silver	Pair Corr
0.35	RCGE	RockCreek Global Equality	Pair Corr
0.31	MUU	Direxion Daily MU	Pair Corr
0.72	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.72	MRK	Merck Company Earnings Call Tomorrow	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr
0.62	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.61	PFE	Pfizer Inc Earnings Call Tomorrow	Pair Corr
0.6	MCD	McDonalds Sell-off Trend	Pair Corr
0.59	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.52	KO	Coca Cola Aggressive Push	Pair Corr
0.33	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	FIFGX	QQQI	FASIX	BOND	FFVFX	VCRB	FDCAX	EQPGX	JBND	JGLO
FIFGX		0.46	0.76	0.62	0.75	0.51	0.6	0.33	0.38	0.66	FIFGX
QQQI	0.46		0.78	0.56	0.79	0.55	0.66	0.9	0.43	0.85	QQQI
FASIX	0.76	0.78		0.88	1.0	0.82	0.92	0.57	0.71	0.94	FASIX
BOND	0.62	0.56	0.88		0.87	0.96	0.78	0.39	0.9	0.79	BOND
FFVFX	0.75	0.79	1.0	0.87		0.8	0.92	0.59	0.69	0.96	FFVFX
VCRB	0.51	0.55	0.82	0.96	0.8		0.72	0.37	0.96	0.72	VCRB
FDCAX	0.6	0.66	0.92	0.78	0.92	0.72		0.37	0.66	0.85	FDCAX
EQPGX	0.33	0.9	0.57	0.39	0.59	0.37	0.37		0.22	0.73	EQPGX
JBND	0.38	0.43	0.71	0.9	0.69	0.96	0.66	0.22		0.58	JBND
JGLO	0.66	0.85	0.94	0.79	0.96	0.72	0.85	0.73	0.58		JGLO
	FIFGX	QQQI	FASIX	BOND	FFVFX	VCRB	FDCAX	EQPGX	JBND	JGLO

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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	0.84	0.15	0.12	1.56	0.81	(0.91)	1.64	(1.55)	3.01
QQQI	0.63	(0.02)	(0.03)	0.00	0.98	(0.57)	1.20	(1.70)	4.27
FASIX	0.17	0.01	(0.09)	0.06	0.14	(0.19)	0.35	(0.35)	0.91
BOND	0.15	(0.01)	(0.19)	(0.04)	0.17	(0.17)	0.27	(0.34)	0.73
FFVFX	0.24	0.01	(0.05)	0.06	0.24	(0.27)	0.50	(0.50)	1.24
VCRB	0.14	(0.01)	(0.23)	(0.08)	0.17	(0.16)	0.28	(0.28)	0.76
FDCAX	0.73	0.15	0.13	0.23	0.82	(0.77)	1.17	(1.54)	7.71
EQPGX	0.73	(0.05)	0.00	(0.03)	0.00	0.00	1.32	(2.12)	4.84
JBND	0.15	(0.01)	(0.22)	(0.10)	0.18	(0.17)	0.30	(0.37)	0.82
JGLO	0.48	(0.01)	(0.03)	0.02	0.72	(0.44)	0.80	(1.14)	3.39

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