CoinShares Bitcoin Correlations

BTF Etf

USD 20.83 0.95 4.36%

The current 90-days correlation between CoinShares Bitcoin and and Tidal ETF Trust is -0.01 (i.e., Good diversification). The correlation of CoinShares 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.

CoinShares Bitcoin Correlation With Market

Very good diversification

The correlation between CoinShares Bitcoin and 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 CoinShares Bitcoin and and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CoinShares Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CoinShares Bitcoin and. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in child.

Moving together with CoinShares Etf

0.99	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.91	BITO	ProShares Bitcoin	Pair Corr
0.99	BTC	Grayscale Bitcoin Mini	Pair Corr
0.74	MSFT	Microsoft	Pair Corr
0.64	HPQ	HP Inc Aggressive Push	Pair Corr

Moving against CoinShares Etf

0.54	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.49	GDMN	WisdomTree Efficient Gold	Pair Corr
0.48	SIL	Global X Silver	Pair Corr
0.47	JNUG	Direxion Daily Junior	Pair Corr
0.47	NUGT	Direxion Daily Gold Sell-off Trend	Pair Corr
0.43	GDXU	MicroSectors Gold Miners	Pair Corr
0.43	SHNY	Microsectors Gold	Pair Corr
0.42	AGQ	ProShares Ultra Silver	Pair Corr
0.37	MUU	Direxion Daily MU Trending	Pair Corr
0.37	MULL	GraniteShares 2x Long Trending	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.59	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.57	KO	Coca Cola Aggressive Push	Pair Corr
0.43	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.39	AA	Alcoa Corp	Pair Corr
0.33	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	-0.14	0.27	0.06	-0.43	0.16	0.07	0.17	0.26	META
MSFT	-0.01		0.72	-0.56	0.12	0.38	0.49	0.03	-0.76	-0.75	MSFT
UBER	-0.14	0.72		-0.49	0.25	0.53	0.11	-0.15	-0.76	-0.53	UBER
F	0.27	-0.56	-0.49		-0.44	-0.29	-0.03	0.37	0.69	0.66	F
T	0.06	0.12	0.25	-0.44		0.38	-0.32	-0.33	-0.32	-0.25	T
A	-0.43	0.38	0.53	-0.29	0.38		-0.02	-0.07	-0.36	-0.57	A
CRM	0.16	0.49	0.11	-0.03	-0.32	-0.02		0.66	-0.16	-0.54	CRM
JPM	0.07	0.03	-0.15	0.37	-0.33	-0.07	0.66		0.29	-0.12	JPM
MRK	0.17	-0.76	-0.76	0.69	-0.32	-0.36	-0.16	0.29		0.68	MRK
XOM	0.26	-0.75	-0.53	0.66	-0.25	-0.57	-0.54	-0.12	0.68		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.72	MSFT
MRK	+ 0.69	F
XOM	+ 0.68	MRK
XOM	+ 0.66	F
JPM	+ 0.66	CRM
A	+ 0.53	UBER

High negative correlations

MRK	- 0.76	UBER
MRK	- 0.76	MSFT
XOM	- 0.75	MSFT
XOM	- 0.57	A
F	- 0.56	MSFT
XOM	- 0.54	CRM

CoinShares Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between CoinShares Etf performing well and CoinShares 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 CoinShares 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
META	1.63	(0.12)	0.00	(0.07)	0.00	0.00	3.43	(2.72)	13.36
MSFT	1.22	(0.37)	0.00	(2.30)	0.00	0.00	1.78	(2.70)	13.28
UBER	1.46	(0.27)	0.00	(0.31)	0.00	0.00	2.46	(3.82)	10.23
F	1.23	0.05	0.04	0.09	1.22	(1.46)	3.38	(2.35)	7.16
T	0.96	0.04	0.01	0.21	1.04	(1.02)	1.85	(1.85)	3.77
A	1.20	(0.17)	0.00	(0.08)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.31)	0.00	(0.26)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	0.02	(0.02)	(0.11)	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.23	0.52	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.10	0.29	0.19	15.60	1.03	(1.26)	2.38	(2.11)	5.82

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