STKD Bitcoin Correlations

BTGD Etf

30.58 1.17 3.98%

The current 90-days correlation between STKD Bitcoin Gold and First Trust Multi Asset is 0.42 (i.e., Very weak diversification). The correlation of STKD 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.

STKD Bitcoin Correlation With Market

Good diversification

The correlation between STKD Bitcoin Gold and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STKD Bitcoin Gold 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 STKD Bitcoin Gold. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with STKD Etf

0.85	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.85	BITO	ProShares Bitcoin	Pair Corr
0.81	BLOK	Amplify Transformational	Pair Corr
0.72	BITQ	Bitwise Crypto Industry	Pair Corr
0.82	SPBC	Simplify Equity PLUS	Pair Corr
0.85	BTC	Grayscale Bitcoin Mini	Pair Corr
0.7	DAPP	VanEck Digital Trans	Pair Corr
0.74	CRPT	First Trust SkyBridge	Pair Corr
0.83	ARKW	ARK Next Generation	Pair Corr
0.7	WTMF	WisdomTree Managed	Pair Corr
0.67	BST	BlackRock Science Tech	Pair Corr
0.76	DIS	Walt Disney	Pair Corr
0.69	BAC	Bank of America Sell-off Trend	Pair Corr
0.78	AXP	American Express Earnings Call This Week	Pair Corr
0.78	WMT	Walmart	Pair Corr

Moving against STKD Etf

0.67	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.39	IRET	iREIT MarketVector	Pair Corr
0.54	KO	Coca Cola Aggressive Push	Pair Corr
0.41	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.37	HPQ	HP Inc	Pair Corr
0.34	INTC	Intel Earnings Call This Week	Pair Corr
0.32	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	MDIV	MFUL	MPAY	MPRO	DWAT	MRSK	MSMR	MVFD	MVFG
MDIV		0.88	0.34	0.66	0.82	0.42	0.52	0.9	0.81	MDIV
MFUL	0.88		0.59	0.53	0.85	0.73	0.73	0.92	0.77	MFUL
MPAY	0.34	0.59		0.01	0.51	0.81	0.84	0.36	0.26	MPAY
MPRO	0.66	0.53	0.01		0.62	-0.07	-0.07	0.58	0.89	MPRO
DWAT	0.82	0.85	0.51	0.62		0.54	0.56	0.88	0.85	DWAT
MRSK	0.42	0.73	0.81	-0.07	0.54		0.92	0.58	0.26	MRSK
MSMR	0.52	0.73	0.84	-0.07	0.56	0.92		0.56	0.23	MSMR
MVFD	0.9	0.92	0.36	0.58	0.88	0.58	0.56		0.82	MVFD
MVFG	0.81	0.77	0.26	0.89	0.85	0.26	0.23	0.82		MVFG
	MDIV	MFUL	MPAY	MPRO	DWAT	MRSK	MSMR	MVFD	MVFG

Click cells to compare fundamentals

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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

MVFD	+ 0.92	MFUL
MSMR	+ 0.92	MRSK
MVFD	+ 0.9	MDIV
MVFG	+ 0.89	MPRO
MFUL	+ 0.88	MDIV
MVFD	+ 0.88	DWAT

High negative correlations

MSMR	- 0.07	MPRO
MRSK	- 0.07	MPRO

STKD Bitcoin Constituents Risk-Adjusted Indicators

There is a big difference between STKD Etf performing well and STKD 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 STKD 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
MDIV	0.38	0.00	(0.04)	0.00	0.51	(0.40)	0.74	(0.74)	2.83
MFUL	0.17	0.00	(0.09)	(0.03)	0.20	(0.22)	0.32	(0.33)	1.34
MPAY	0.57	0.02	0.01	0.08	0.74	(0.62)	1.12	(1.19)	3.85
MPRO	0.37	(0.07)	0.00	(0.26)	0.00	0.00	0.72	(0.85)	2.39
DWAT	0.63	0.00	(0.01)	0.03	0.84	(0.66)	1.22	(1.29)	6.38
MRSK	0.47	0.02	0.00	0.11	0.58	(0.48)	0.91	(1.01)	3.85
MSMR	0.50	0.04	0.03	0.17	0.66	(0.53)	1.04	(0.79)	5.59
MVFD	0.66	(0.01)	(0.03)	(0.02)	0.88	(0.72)	1.19	(1.24)	7.34
MVFG	0.56	(0.05)	0.00	(0.11)	0.00	0.00	1.14	(1.28)	4.44

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