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.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Grayscale CoinDesk Crypto. Also, note that the market value of any otc etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving against Grayscale OTC Etf

  0.69PWV Invesco Dynamic LargePairCorr
  0.62RDIV Invesco SP UltraPairCorr
  0.59SYLD Cambria Shareholder Yield Low VolatilityPairCorr
  0.54IEO iShares Oil Gas Low VolatilityPairCorr
  0.54VAW Vanguard Materials IndexPairCorr
  0.53AVIG Avantis Core FixedPairCorr
  0.53AHYB American Century ETFPairCorr
  0.53DDLS WisdomTree DynamicPairCorr
  0.51BSCY Invesco BulletShares 2034PairCorr
  0.49TOUS T Rowe PricePairCorr
  0.49BBEU JPMorgan BetaBuildersPairCorr
  0.49DBJP Xtrackers MSCI JapanPairCorr
  0.46BCD abrdn Bloomberg AllPairCorr
  0.45YLD Principal Active HighPairCorr
  0.44CPST Calamos ETF TrustPairCorr
  0.44SPMD SPDR Russell SmallPairCorr
  0.42RSPH Invesco SP 500PairCorr
  0.39JULW AIM ETF ProductsPairCorr
  0.38ITDD iShares TrustPairCorr
  0.35STXT EA Series TrustPairCorr
  0.67GSIG Goldman Sachs AccessPairCorr
  0.66ABI VictoryShares PioneerPairCorr
  0.65VUSB Vanguard Ultra Short Sell-off TrendPairCorr
  0.64BAMU Brookstone Ultra ShortPairCorr
  0.58IBMR iShares TrustPairCorr
  0.56XTN SPDR SP TransportationPairCorr
  0.56BINC BlackRock ETF TrustPairCorr
  0.53IAUM iShares Gold TrustPairCorr
  0.52BHYB Xtrackers USD HighPairCorr
  0.52XES SPDR SP OilPairCorr
  0.52AGZD WisdomTree Interest RatePairCorr
  0.51THD iShares MSCI ThailandPairCorr
  0.5XAPR FT Cboe VestPairCorr

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

XOMMRK
UBERMSFT
CRMMSFT
MRKF
AUBER
XOMF
  

High negative correlations

XOMMSFT
MRKUBER
MRKMSFT
XOMCRM
XOMA
XOMUBER

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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

Our tools can tell you how much better you can do entering a position in Grayscale CoinDesk 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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