Bitwise Funds Correlations

Etfs . USA . 
Etf . Bitwise Funds Trust
BWEB Etf  USD 61.36  1.29  2.15%   
The correlation of Bitwise Funds 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.

Bitwise Funds Correlation With Market

Average diversification

The correlation between Bitwise Funds Trust and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitwise Funds Trust 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 Bitwise Funds Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Bitwise Etf

  0.84VGT Vanguard InformationPairCorr
  0.73XLK Technology Select SectorPairCorr
  0.84IYW iShares Technology ETFPairCorr
  0.83CIBR First Trust NASDAQPairCorr
  0.85FTEC Fidelity MSCI InformationPairCorr
  0.9IGV iShares Expanded TechPairCorr
  0.91FDN First Trust DowPairCorr
  0.87IGM iShares Expanded TechPairCorr
  0.9VTI Vanguard Total StockPairCorr
  0.89SPY SPDR SP 500PairCorr
  0.89IVV iShares Core SPPairCorr
  0.89VUG Vanguard Growth IndexPairCorr
  0.66VO Vanguard Mid CapPairCorr
  0.72VB Vanguard Small CapPairCorr
  0.74RFDA RiverFront DynamicPairCorr
  0.82AXP American ExpressPairCorr
  0.7JPM JPMorgan ChasePairCorr
  0.78CSCO Cisco SystemsPairCorr
  0.84DIS Walt Disney Earnings Call This WeekPairCorr

Moving against Bitwise Etf

  0.65PFE Pfizer Inc Earnings Call This WeekPairCorr
  0.61JNJ Johnson JohnsonPairCorr
  0.36XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.32INTC IntelPairCorr

Related Correlations Analysis

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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   
AGIL
+ 0.89
VOCL
ENGA
+ 0.89
VOCL
ENGA
+ 0.84
AGIL
VOCL
+ 0.0
ACRU
NETO
+ 0.0
ACRU
AGIL
+ 0.0
ACRU
  
High negative correlations   
ENGA
- 0.0
NETO
AGIL
- 0.0
NETO
NETO
- 0.0
VOCL
ENGA
- 0.0
ACRU
AGIL
- 0.0
ACRU
NETO
- 0.0
ACRU

Bitwise Funds Constituents Risk-Adjusted Indicators

There is a big difference between Bitwise Etf performing well and Bitwise Funds 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 Bitwise Funds' 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.

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