CoinShares Physical Correlations

ETHE Etf

CHF 46.84 2.13 4.76%

The current 90-days correlation between CoinShares Physical and 21Shares Stellar ETP is 0.73 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

CoinShares Physical Correlation With Market

Excellent diversification

The correlation between CoinShares Physical Ethereum and DJI is -0.62 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CoinShares Physical Ethereum 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 Ethereum to buy it.

Moving together with CoinShares Etf

0.98	BTCW	WisdomTree Physical	Pair Corr
0.96	BITC	CoinShares Physical	Pair Corr
0.89	AXRP	21Shares Ripple XRP	Pair Corr
0.97	ETHW	WisdomTree Ethereum ETC	Pair Corr
0.95	AXLM	21Shares Stellar ETP	Pair Corr
0.94	XRPL	CoinShares Physical XRP	Pair Corr

Moving against CoinShares Etf

0.73	IKOR	iShares MSCI Korea	Pair Corr
0.7	HKOR	HSBC MSCI KOREA	Pair Corr
0.58	ESGO	AuAg Gold Mining	Pair Corr
0.57	AUCO	LG Gold Mining	Pair Corr
0.57	IAUP	iShares Gold Producers	Pair Corr
0.56	GDXJ	VanEck Junior Gold	Pair Corr
0.56	GDX	VanEck Gold Miners	Pair Corr
0.55	GGMUSY	UBS ETF plc	Pair Corr
0.44	SVUSA	UBS ETF Silver	Pair Corr
0.75	XLIS	Invesco Industrials	Pair Corr
0.74	JPHG	Amundi Index Solutions	Pair Corr
0.73	XMJP	Xtrackers MSCI Japan	Pair Corr
0.65	AUEM	Amundi Index Solutions	Pair Corr
0.58	VUKE	Vanguard FTSE 100	Pair Corr
0.57	STWX	SPDR MSCI Europe	Pair Corr
0.56	SMCX	SPDR MSCI Europe	Pair Corr
0.56	C50	Amundi Index Solutions	Pair Corr
0.52	LYFINW	Lyxor MSCI World	Pair Corr
0.52	EMUEUA	UBSFund Solutions MSCI	Pair Corr
0.48	SMHV	VanEck Semiconductor	Pair Corr
0.43	ZSILHC	ZKB Silver ETF	Pair Corr
0.35	USGBPA	UBS ETF plc	Pair Corr
0.33	IUSE	iShares SP 500	Pair Corr
0.77	TBIL	SPDR Bloomberg 1	Pair Corr
0.76	PSRW	Invesco FTSE RAFI	Pair Corr
0.75	SXLI	SPDR SP Industrials	Pair Corr
0.74	SJPA	iShares Core MSCI	Pair Corr
0.71	ZGLDEU	ZKB Gold ETF	Pair Corr
0.71	IJPN	iShares MSCI Japan	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	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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