XTRA Bitcoin Correlations

CBTC Stock

USD 0 0.0001 8.33%

The correlation of XTRA 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.

XTRA Bitcoin Correlation With Market

Good diversification

The correlation between XTRA Bitcoin and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XTRA Bitcoin and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to XTRA Bitcoin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XTRA Bitcoin 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 XTRA Bitcoin - 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 XTRA Bitcoin to buy it.

Moving together with XTRA Pink Sheet

0.75	PTAIF	PT Astra International	Pair Corr
0.68	PKX	POSCO Holdings	Pair Corr
0.82	INTC	Intel	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.77	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr

Moving against XTRA Pink Sheet

0.68	LGCY	Legacy Education	Pair Corr
0.63	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.62	AMZN	Amazon Inc Earnings Call This Week	Pair Corr
0.57	BAMXF	Bayerische Motoren Werke	Pair Corr
0.56	META	Meta Platforms Aggressive Push	Pair Corr
0.51	AAPL	Apple Inc Aggressive Push	Pair Corr
0.46	EC	Ecopetrol SA ADR	Pair Corr
0.42	V	Visa Class A	Pair Corr
0.84	BA	Boeing	Pair Corr
0.82	LPTH	LightPath Technologies Earnings Call This Week	Pair Corr
0.67	GILT	Gilat Satellite Networks	Pair Corr
0.52	CHKP	Check Point Software Earnings Call This Week	Pair Corr
0.52	AXP	American Express	Pair Corr
0.48	CSCO	Cisco Systems	Pair Corr
0.36	MMM	3M Company	Pair Corr
0.33	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.33	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	CCTL	ICOA	NSAV	LGHL	CBTTF	DBKSF	BLQC	BRPHF	HAON	CBYI
CCTL		0.03	-0.4	-0.33	-0.38	0.3	-0.54	0.37	0.0	0.0	CCTL
ICOA	0.03		0.11	0.09	-0.12	0.14	0.1	-0.07	0.0	0.0	ICOA
NSAV	-0.4	0.11		0.55	0.67	-0.35	0.8	-0.44	0.0	0.0	NSAV
LGHL	-0.33	0.09	0.55		0.3	-0.41	0.6	-0.46	0.0	0.0	LGHL
CBTTF	-0.38	-0.12	0.67	0.3		-0.39	0.74	-0.43	0.0	0.0	CBTTF
DBKSF	0.3	0.14	-0.35	-0.41	-0.39		-0.48	0.32	0.0	0.0	DBKSF
BLQC	-0.54	0.1	0.8	0.6	0.74	-0.48		-0.49	0.0	0.0	BLQC
BRPHF	0.37	-0.07	-0.44	-0.46	-0.43	0.32	-0.49		0.0	0.0	BRPHF
HAON	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		1.0	HAON
CBYI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.0		CBYI
	CCTL	ICOA	NSAV	LGHL	CBTTF	DBKSF	BLQC	BRPHF	HAON	CBYI

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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

CBYI	+ 1.0	HAON
BLQC	+ 0.8	NSAV
BLQC	+ 0.74	CBTTF
CBTTF	+ 0.67	NSAV
BLQC	+ 0.6	LGHL
LGHL	+ 0.55	NSAV

High negative correlations

BLQC	- 0.54	CCTL
BRPHF	- 0.49	BLQC
BLQC	- 0.48	DBKSF
BRPHF	- 0.46	LGHL
BRPHF	- 0.44	NSAV
BRPHF	- 0.43	CBTTF

Risk-Adjusted Indicators

There is a big difference between XTRA Pink Sheet performing well and XTRA Bitcoin 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 XTRA 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
CCTL	8.82	3.02	0.00	(130.75)	0.00	0.00	0.00	0.00	150.00
ICOA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NSAV	16.89	0.89	0.03	(0.83)	18.28	(30.16)	25.00	(28.57)	255.56
LGHL	4.77	(0.17)	0.00	0.16	0.00	0.00	11.11	(10.53)	47.58
CBTTF	3.95	(0.25)	0.00	(0.13)	0.00	0.00	8.53	(9.17)	23.29
DBKSF	38.08	21.04	0.00	(0.84)	0.00	0.00	46.67	0.00	882.18
BLQC	7.11	(1.01)	0.00	(1.19)	0.00	0.00	14.29	(16.67)	39.56
BRPHF	4.38	0.75	0.13	1.16	4.98	(4.91)	7.74	(8.79)	40.98
HAON	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CBYI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in XTRA Bitcoin 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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