CoinShares Altcoins Correlations
| DIME Etf | 11.53 0.26 2.31% |
The current 90-days correlation between CoinShares Altcoins ETF and DOJE is 0.84 (i.e., Very poor diversification). The correlation of CoinShares Altcoins 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 Altcoins Correlation With Market
Average diversification
The correlation between CoinShares Altcoins ETF and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CoinShares Altcoins ETF and DJI in the same portfolio, assuming nothing else is changed.
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Moving against CoinShares Etf
| 0.58 | SIXS | 6 Meridian Small | PairCorr |
| 0.54 | FROG | Jfrog | PairCorr |
| 0.54 | JNK | SPDR Bloomberg High Sell-off Trend | PairCorr |
| 0.47 | FSMD | Fidelity Small Mid | PairCorr |
| 0.42 | CPST | Calamos ETF Trust | PairCorr |
| 0.35 | ITDD | iShares Trust | PairCorr |
| 0.34 | SIL | Global X Silver | PairCorr |
| 0.33 | FTBI | First Trust Exchange | PairCorr |
| 0.33 | GBUG | Sprott Active Gold | PairCorr |
| 0.33 | FSST | Fidelity Sustainability | PairCorr |
| 0.31 | HEZU | iShares Currency Hedged | PairCorr |
| 0.59 | SCJ | iShares MSCI Japan | PairCorr |
| 0.54 | HYUP | Xtrackers High Beta | PairCorr |
| 0.54 | AVUV | Avantis Small Cap | PairCorr |
| 0.52 | ZJAN | Innovator Equity Defined | PairCorr |
| 0.48 | EQRR | ProShares Equities for | PairCorr |
| 0.45 | SNPD | DBX ETF Trust | PairCorr |
| 0.45 | DFAX | Dimensional World | PairCorr |
| 0.4 | APRT | AllianzIM Large Cap | PairCorr |
| 0.38 | CLOX | Series Portfolios Trust | PairCorr |
| 0.37 | FVAL | Fidelity Value Factor | PairCorr |
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
| High negative correlations
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CoinShares Altcoins Constituents Risk-Adjusted Indicators
There is a big difference between CoinShares Etf performing well and CoinShares Altcoins 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 Altcoins' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DIME | 4.45 | (1.39) | 0.00 | (0.86) | 0.00 | 8.21 | 36.78 | |||
| DOJE | 4.16 | (0.94) | 0.00 | (0.49) | 0.00 | 8.84 | 23.08 | |||
| MNRS | 4.10 | (0.51) | 0.00 | (0.11) | 0.00 | 7.90 | 23.19 | |||
| VSOL | 3.99 | (0.20) | 0.00 | (0.08) | 0.00 | 9.41 | 18.84 | |||
| EETH | 3.82 | (0.55) | 0.00 | (0.33) | 0.00 | 7.45 | 17.91 | |||
| NCIQ | 2.71 | (0.47) | 0.00 | (0.40) | 0.00 | 4.66 | 14.26 | |||
| NEHI | 2.55 | (0.46) | 0.00 | (0.88) | 0.00 | 6.87 | 8.94 | |||
| ETCO | 2.89 | (0.44) | 0.00 | (0.44) | 0.00 | 4.87 | 15.29 | |||
| ETHA | 3.71 | (0.44) | 0.00 | 1.13 | 0.00 | 7.41 | 17.95 |