Bitcoin Strategy Correlations

BTCFX Fund

USD 33.56 1.36 4.22%

The current 90-days correlation between Bitcoin Strategy Profund and Idx Risk Managed Bitcoin is 0.94 (i.e., Almost no diversification). The correlation of Bitcoin Strategy 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.

Bitcoin Strategy Correlation With Market

Very weak diversification

The correlation between Bitcoin Strategy Profund 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 Bitcoin Strategy Profund 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 Bitcoin Strategy Profund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Bitcoin Mutual Fund

0.65	TEPIX	Technology Ultrasector	Pair Corr
0.65	TEPSX	Technology Ultrasector	Pair Corr
0.81	LGPIX	Large Cap Growth	Pair Corr
0.8	LGPSX	Profunds Large Cap	Pair Corr
0.78	OTPIX	Nasdaq 100 Profund	Pair Corr
0.78	OTPSX	Nasdaq 100 Profund	Pair Corr
0.86	MLPSX	Mid Cap Value	Pair Corr
0.86	MLPIX	Mid Cap Value	Pair Corr
0.68	ENPSX	Oil Gas Ultrasector	Pair Corr
0.69	ENPIX	Oil Gas Ultrasector	Pair Corr
0.64	PHPIX	Pharmaceuticals Ultrasector	Pair Corr
0.89	INPIX	Internet Ultrasector	Pair Corr
0.89	INPSX	Internet Ultrasector	Pair Corr
0.8	ULPIX	Ultrabull Profund	Pair Corr
0.79	ULPSX	Ultrabull Profund	Pair Corr
0.9	WCPIX	Mobile Telecommunicatio	Pair Corr
0.9	WCPSX	Mobile Telecommunicatio	Pair Corr
0.89	CYPSX	Consumer Services	Pair Corr
0.89	CYPIX	Consumer Services	Pair Corr
0.84	SVPIX	Small Cap Value Potential Growth	Pair Corr
0.84	SVPSX	Small Cap Value Potential Growth	Pair Corr
0.79	RRPSX	Rising Rates Opportunity	Pair Corr
0.8	UMPSX	Ultramid Cap Profund	Pair Corr
0.8	UMPIX	Ultramid Cap Profund	Pair Corr

Moving against Bitcoin Mutual Fund

0.81	UIPIX	Ultrashort Mid Cap	Pair Corr
0.81	UIPSX	Ultrashort Mid Cap	Pair Corr
0.79	BRPSX	Bear Profund Bear	Pair Corr
0.79	GVPSX	Us Government Plus	Pair Corr
0.78	BRPIX	Bear Profund Bear	Pair Corr
0.78	GVPIX	Us Government Plus	Pair Corr
0.51	UKPSX	Ultrashort Japan Profund	Pair Corr
0.51	UKPIX	Ultrashort Japan Profund	Pair Corr

Related Correlations Analysis

	BTIDX	BTCVX	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX
BTIDX		0.99	0.0	0.22	0.39	-0.15	-0.75	0.76	0.26	BTIDX
BTCVX	0.99		0.0	0.32	0.45	-0.14	-0.7	0.74	0.32	BTCVX
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.22	0.32	0.0		0.72	0.4	0.03	-0.09	0.82	MSTSX
LBHIX	0.39	0.45	0.0	0.72		0.62	-0.21	0.17	0.73	LBHIX
ABHYX	-0.15	-0.14	0.0	0.4	0.62		-0.01	-0.21	0.47	ABHYX
SCAXF	-0.75	-0.7	0.0	0.03	-0.21	-0.01		-0.71	-0.01	SCAXF
VIASP	0.76	0.74	0.0	-0.09	0.17	-0.21	-0.71		-0.03	VIASP
RRTLX	0.26	0.32	0.0	0.82	0.73	0.47	-0.01	-0.03		RRTLX
	BTIDX	BTCVX	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX

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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

BTCVX	+ 0.99	BTIDX
RRTLX	+ 0.82	MSTSX
VIASP	+ 0.76	BTIDX
VIASP	+ 0.74	BTCVX
RRTLX	+ 0.73	LBHIX
LBHIX	+ 0.72	MSTSX

High negative correlations

SCAXF	- 0.75	BTIDX
VIASP	- 0.71	SCAXF
SCAXF	- 0.7	BTCVX
VIASP	- 0.21	ABHYX
SCAXF	- 0.21	LBHIX
ABHYX	- 0.15	BTIDX

Risk-Adjusted Indicators

There is a big difference between Bitcoin Mutual Fund performing well and Bitcoin Strategy Mutual Fund 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 Bitcoin Strategy'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
BTIDX	1.53	0.38	0.32	0.34	0.81	(1.99)	3.18	(2.30)	13.61
BTCVX	2.01	0.45	0.28	0.31	1.42	(2.33)	4.90	(2.91)	13.27
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.16	0.00	(0.17)	0.11	0.26	(0.23)	0.34	(0.33)	1.91
SCAXF	0.70	(0.40)	0.00	(1.01)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.14	0.04	(6.44)	1.01	(0.84)	2.28	(1.15)	7.18
RRTLX	0.24	0.00	(0.23)	0.89	0.26	(0.27)	0.56	(0.56)	1.37

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