Calamos Bitcoin Correlations

CBXJ Etf

23.85 0.25 1.04%

The current 90-days correlation between Calamos Bitcoin 90 and Grayscale Funds Trust is -0.17 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Calamos Bitcoin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Calamos Bitcoin 90 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Calamos Bitcoin Correlation With Market

Significant diversification

The correlation between Calamos Bitcoin 90 and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Bitcoin 90 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 Calamos Bitcoin 90. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Calamos Etf

0.64	VEA	Vanguard FTSE Developed	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.69	WMT	Walmart	Pair Corr
0.65	JPM	JPMorgan Chase	Pair Corr

Moving against Calamos Etf

0.45

MSFT

Microsoft

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.26	0.7	-0.47	0.53	0.29	0.03	0.89	-0.79	0.19	META
MSFT	-0.26		-0.65	0.47	-0.74	0.6	0.88	-0.12	0.56	-0.08	MSFT
UBER	0.7	-0.65		-0.51	0.81	-0.21	-0.57	0.64	-0.85	0.38	UBER
F	-0.47	0.47	-0.51		-0.29	0.23	0.35	-0.37	0.67	0.29	F
T	0.53	-0.74	0.81	-0.29		-0.49	-0.64	0.35	-0.7	0.34	T
A	0.29	0.6	-0.21	0.23	-0.49		0.69	0.53	0.15	0.08	A
CRM	0.03	0.88	-0.57	0.35	-0.64	0.69		0.1	0.39	-0.08	CRM
JPM	0.89	-0.12	0.64	-0.37	0.35	0.53	0.1		-0.68	0.23	JPM
MRK	-0.79	0.56	-0.85	0.67	-0.7	0.15	0.39	-0.68		-0.18	MRK
XOM	0.19	-0.08	0.38	0.29	0.34	0.08	-0.08	0.23	-0.18		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

JPM	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.81	UBER
UBER	+ 0.7	META
CRM	+ 0.69	A
MRK	+ 0.67	F

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.79	META
T	- 0.74	MSFT
MRK	- 0.7	T
MRK	- 0.68	JPM
UBER	- 0.65	MSFT

Calamos Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between Calamos Etf performing well and Calamos 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 Calamos 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	1.58	0.09	0.00	(0.04)	0.00	0.00	2.49	(3.59)	8.65
MSFT	1.07	(0.15)	0.00	(0.39)	0.00	0.00	2.56	(2.14)	10.31
UBER	1.89	0.18	0.10	0.28	2.38	(1.97)	4.72	(3.30)	12.75
F	1.40	0.06	0.00	(0.08)	0.00	0.00	2.71	(2.89)	10.14
T	1.04	0.23	0.17	0.30	1.64	(1.07)	1.90	(2.12)	11.66
A	1.14	(0.12)	0.00	(0.28)	0.00	0.00	2.80	(2.59)	9.03
CRM	1.40	(0.27)	0.00	(0.40)	0.00	0.00	2.21	(3.81)	8.88
JPM	1.07	0.03	0.00	(0.12)	0.00	0.00	1.97	(3.35)	6.85
MRK	1.21	(0.13)	0.00	1.63	0.00	0.00	2.08	(2.24)	11.57
XOM	1.01	(0.02)	0.00	(0.21)	0.00	0.00	2.07	(2.36)	5.89

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Grayscale Bitcoin Trust

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