CoinShares Physical Correlations

Etfs . Germany . 
Etf . CoinShares Physical Chainlink
CCHA Etf   0.75  0.09  13.64%   
The current 90-days correlation between CoinShares Physical and UBS ETF Public is -0.01 (i.e., Good diversification). The correlation of CoinShares Physical 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 Physical Correlation With Market

Excellent diversification

The correlation between CoinShares Physical Chainlink and DJI is -0.56 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CoinShares Physical Chainlink and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CoinShares Physical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CoinShares Physical 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 CoinShares Physical - 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 CoinShares Physical Chainlink to buy it.

Moving together with CoinShares Etf

  0.98DSOL WisdomTree Solana EURPairCorr
  0.98VS0L VanEck Solana ETNPairCorr

Moving against CoinShares Etf

  0.82CEBG iShares VII PublicPairCorr
  0.8XDEV Xtrackers MSCI WorldPairCorr
  0.8DBX8 Xtrackers MSCIPairCorr
  0.8DBX8 Xtrackers MSCIPairCorr
  0.8VECA Vanguard Funds PublicPairCorr
  0.79IS3B iShares VI PublicPairCorr
  0.78IUS4 iShares III PublicPairCorr
  0.78CHSR UBSFund Solutions MSCIPairCorr
  0.7310AL Amundi Index SolutionsPairCorr
  0.72H410 HSBC MSCI EmergingPairCorr
  0.71UIMI UBS Fund SolutionsPairCorr
  0.71EUN8 iShares III PublicPairCorr
  0.7CB3G Amundi Index SolutionsPairCorr
  0.68EXV4 iShares STOXX EuropePairCorr
  0.67EAH Lyxor Euro GovernmentPairCorr
  0.66ETLX LG Gold MiningPairCorr
  0.66DBXY Xtrackers FTSEPairCorr
  0.65ETLX LG Gold MiningPairCorr
  0.64IS0E iShares Gold ProducersPairCorr
  0.63EUHI PIMCO Euro ShortPairCorr
  0.62UBUD UBS ETF PublicPairCorr
  0.62G2X VanEck Gold MinersPairCorr
  0.62E909 Lyxor 1 DAXPairCorr
  0.61G2XJ VanEck Junior GoldPairCorr
  0.6EUHI PIMCO ETFs plcPairCorr
  0.59G2XJ VanEck Junior GoldPairCorr
  0.58SLVR Global X SilverPairCorr
  0.88QDVF iShares SP 500PairCorr
  0.88EXV7 iShares STOXX EuropePairCorr
  0.87MSSE Leverage Shares 1xPairCorr
  0.85T3MP JPMorgan ETFs ICAVPairCorr
  0.81ZPR6 SPDR ICE BofAPairCorr
  0.81LYQ7 Multi Units LuxembourgPairCorr
  0.818M1 Amundi ETF GoviesPairCorr
  0.77D6RD Deka Future EnergyPairCorr

Related Correlations Analysis


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

CRM
+ 0.91
MSFT
XOM
+ 0.91
MRK
UBER
+ 0.82
MSFT
A
+ 0.81
UBER
A
+ 0.79
MSFT
MRK
+ 0.75
F
  

High negative correlations

XOM
- 0.94
MSFT
MRK
- 0.89
MSFT
XOM
- 0.88
CRM
CRM
- 0.84
T
T
- 0.84
MSFT
XOM
- 0.83
A

CoinShares Physical Competition Risk-Adjusted Indicators

There is a big difference between CoinShares Etf performing well and CoinShares Physical 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 Physical'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.53  0.09  0.04  0.20  1.51 
(1.75)
 3.43 
(2.81)
 13.69 
MSFT  1.33 (0.33) 0.00 (0.60) 0.00 
 0.00 
 2.19 
(2.87)
 13.28 
UBER  1.61 (0.31) 0.00  0.76  0.00 
 0.00 
 2.46 
(4.25)
 11.09 
F  1.29  0.09  0.07  0.19  1.16 
(1.56)
 3.61 
(2.30)
 7.50 
T  1.04  0.18  0.06 (1.21) 0.94 
(1.20)
 3.87 
(1.76)
 7.44 
A  1.26 (0.33) 0.00 (0.19) 0.00 
 0.00 
 2.90 
(2.72)
 7.85 
CRM  1.74 (0.35) 0.00 (0.21) 0.00 
 0.00 
 3.41 
(4.75)
 12.37 
JPM  1.25 (0.15)(0.05) 0.01  1.79 
(1.31)
 2.34 
(3.11)
 8.17 
MRK  1.22  0.33  0.22  0.58  0.98 
(1.40)
 2.81 
(1.98)
 8.74 
XOM  1.29  0.37  0.19  3.51  1.09 
(1.50)
 2.90 
(2.44)
 6.83 

Be your own money manager

Our tools can tell you how much better you can do entering a position in CoinShares Physical 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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