BTC Digital Correlations

BTCT Stock

5.80 0.30 5.45%

The current 90-days correlation between BTC Digital and Brompton Lifeco Split is -0.08 (i.e., Good diversification). The correlation of BTC Digital 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.

BTC Digital Correlation With Market

Average diversification

The correlation between BTC Digital and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BTC Digital and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BTC Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BTC Digital when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back BTC Digital - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling BTC Digital to buy it.

Moving together with BTC Stock

0.83	PYPL	PayPal Holdings CDR	Pair Corr
0.68	GSY	goeasy	Pair Corr
0.77	EPF	Everyday People Financial	Pair Corr
0.91	ACD	Accord Financial Corp	Pair Corr

Moving against BTC Stock

0.89	ECN-PC	ECN Capital Corp	Pair Corr
0.79	FFH	Fairfax Financial	Pair Corr
0.67	ECN	ECN Capital Corp	Pair Corr
0.64	FFH-PI	Fairfax Financial	Pair Corr
0.56	RUM	Rocky Mountain Liquor	Pair Corr
0.55	AXP	AMERICAN EXPRESS CDR Earnings Call Today	Pair Corr
0.37	BRK	Berkshire Hathaway CDR	Pair Corr
0.83	EESH-P	Aneesh Capital Corp	Pair Corr
0.81	BRVO	Bravo Mining Corp	Pair Corr
0.79	DS	Dividend Select 15	Pair Corr
0.73	TTE	TotalEnergies CDR	Pair Corr
0.65	XTD	TDb Split Corp	Pair Corr
0.63	WPK	Winpak	Pair Corr
0.62	AAN	Aton Resources	Pair Corr
0.61	CAS	Cascades	Pair Corr
0.59	AHR	Amarc Resources	Pair Corr
0.58	MGG	Minaurum Gold	Pair Corr
0.57	RCH	Richelieu Hardware	Pair Corr
0.56	AUXX	Gold X2 Mining	Pair Corr
0.52	SLVR	Silver Tiger Metals	Pair Corr
0.32	PGDC	Patagonia Gold Corp	Pair Corr
0.89	PTEC	Principal Technologies	Pair Corr
0.83	VLE	Valeura Energy	Pair Corr
0.81	MERG	Metal Energy Corp	Pair Corr
0.81	BIR	Birchcliff Energy	Pair Corr
0.8	WJX	Wajax	Pair Corr
0.72	CCL-B	CCL Industries	Pair Corr

Related Correlations Analysis

	LCS	LFE	DS	CBIT	RS	PWI	XTD	BNK
LCS		0.98	0.88	-0.93	0.36	0.45	0.95	0.81	LCS
LFE	0.98		0.89	-0.93	0.4	0.48	0.96	0.82	LFE
DS	0.88	0.89		-0.78	0.19	0.38	0.84	0.68	DS
CBIT	-0.93	-0.93	-0.78		-0.39	-0.4	-0.91	-0.81	CBIT
RS	0.36	0.4	0.19	-0.39		0.66	0.47	0.45	RS
PWI	0.45	0.48	0.38	-0.4	0.66		0.54	0.37	PWI
XTD	0.95	0.96	0.84	-0.91	0.47	0.54		0.86	XTD
BNK	0.81	0.82	0.68	-0.81	0.45	0.37	0.86		BNK
	LCS	LFE	DS	CBIT	RS	PWI	XTD	BNK

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

LFE	+ 0.98	LCS
XTD	+ 0.96	LFE
XTD	+ 0.95	LCS
DS	+ 0.89	LFE
DS	+ 0.88	LCS
BNK	+ 0.86	XTD

High negative correlations

CBIT	- 0.93	LFE
CBIT	- 0.93	LCS
XTD	- 0.91	CBIT
BNK	- 0.81	CBIT
CBIT	- 0.78	DS
PWI	- 0.4	CBIT

Risk-Adjusted Indicators

There is a big difference between BTC Stock performing well and BTC Digital Company 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 BTC Digital'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
LCS	0.89	0.38	0.25	13.90	0.66	(1.07)	2.40	(1.47)	5.34
LFE	0.56	0.36	0.45	2.41	0.00	(0.78)	1.56	(0.67)	3.15
DS	0.74	0.09	0.00	(1.60)	0.91	(0.82)	1.87	(1.47)	6.62
CBIT	4.77	(0.62)	0.00	39.35	0.00	0.00	11.89	(12.17)	29.36
RS	0.77	0.07	(0.01)	0.52	0.91	(0.84)	1.72	(1.77)	4.35
PWI	0.95	0.08	0.05	0.21	0.90	(1.12)	2.32	(1.79)	6.68
XTD	1.35	0.40	0.22	0.98	1.11	(1.59)	3.14	(2.03)	8.57
BNK	0.78	0.05	(0.04)	(0.86)	1.14	(0.81)	1.84	(2.09)	5.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in BTC Digital without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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