Grayscale CoinDesk Correlations
| GDLC Etf | USD 32.10 3.08 10.61% |
The current 90-days correlation between Grayscale CoinDesk Crypto and Invesco NASDAQ Internet is 0.44 (i.e., Very weak diversification). The correlation of Grayscale CoinDesk 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.
Grayscale CoinDesk Correlation With Market
Very good diversification
The correlation between Grayscale CoinDesk Crypto and DJI is -0.35 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale CoinDesk Crypto and DJI in the same portfolio, assuming nothing else is changed.
Grayscale |
Moving against Grayscale OTC Etf
| 0.69 | PWV | Invesco Dynamic Large | PairCorr |
| 0.62 | RDIV | Invesco SP Ultra | PairCorr |
| 0.59 | SYLD | Cambria Shareholder Yield Low Volatility | PairCorr |
| 0.54 | IEO | iShares Oil Gas Low Volatility | PairCorr |
| 0.54 | VAW | Vanguard Materials Index | PairCorr |
| 0.53 | AVIG | Avantis Core Fixed | PairCorr |
| 0.53 | AHYB | American Century ETF | PairCorr |
| 0.53 | DDLS | WisdomTree Dynamic | PairCorr |
| 0.51 | BSCY | Invesco BulletShares 2034 | PairCorr |
| 0.49 | TOUS | T Rowe Price | PairCorr |
| 0.49 | BBEU | JPMorgan BetaBuilders | PairCorr |
| 0.49 | DBJP | Xtrackers MSCI Japan | PairCorr |
| 0.46 | BCD | abrdn Bloomberg All | PairCorr |
| 0.45 | YLD | Principal Active High | PairCorr |
| 0.44 | CPST | Calamos ETF Trust | PairCorr |
| 0.44 | SPMD | SPDR Russell Small | PairCorr |
| 0.42 | RSPH | Invesco SP 500 | PairCorr |
| 0.39 | JULW | AIM ETF Products | PairCorr |
| 0.38 | ITDD | iShares Trust | PairCorr |
| 0.35 | STXT | EA Series Trust | PairCorr |
| 0.67 | GSIG | Goldman Sachs Access | PairCorr |
| 0.66 | ABI | VictoryShares Pioneer | PairCorr |
| 0.65 | VUSB | Vanguard Ultra Short Sell-off Trend | PairCorr |
| 0.64 | BAMU | Brookstone Ultra Short | PairCorr |
| 0.58 | IBMR | iShares Trust | PairCorr |
| 0.56 | XTN | SPDR SP Transportation | PairCorr |
| 0.56 | BINC | BlackRock ETF Trust | PairCorr |
| 0.53 | IAUM | iShares Gold Trust | PairCorr |
| 0.52 | BHYB | Xtrackers USD High | PairCorr |
| 0.52 | XES | SPDR SP Oil | PairCorr |
| 0.52 | AGZD | WisdomTree Interest Rate | PairCorr |
| 0.51 | THD | iShares MSCI Thailand | PairCorr |
| 0.5 | XAPR | FT Cboe Vest | 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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Grayscale CoinDesk Competition Risk-Adjusted Indicators
There is a big difference between Grayscale OTC Etf performing well and Grayscale CoinDesk OTC 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 Grayscale CoinDesk'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 | 0.02 | (0.01) | 0.11 | 1.55 | 3.43 | 13.69 | |||
| MSFT | 1.32 | (0.41) | 0.00 | (0.89) | 0.00 | 1.85 | 13.28 | |||
| UBER | 1.55 | (0.47) | 0.00 | (0.70) | 0.00 | 2.41 | 11.09 | |||
| F | 1.22 | 0.03 | 0.02 | 0.11 | 1.20 | 3.38 | 7.16 | |||
| T | 0.94 | 0.16 | 0.09 | 1.52 | 0.83 | 2.02 | 4.32 | |||
| A | 1.21 | (0.26) | 0.00 | (0.14) | 0.00 | 2.90 | 7.85 | |||
| CRM | 1.71 | (0.54) | 0.00 | (0.39) | 0.00 | 2.94 | 12.37 | |||
| JPM | 1.20 | (0.04) | 0.00 | 0.05 | 1.67 | 2.34 | 7.38 | |||
| MRK | 1.26 | 0.56 | 0.43 | 0.97 | 0.69 | 3.59 | 8.09 | |||
| XOM | 1.17 | 0.41 | 0.26 | 3.45 | 0.94 | 2.69 | 5.85 |
Be your own money manager
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