Grayscale CoinDesk Correlations

OTC Etfs . USA . 
Etf . Grayscale CoinDesk Crypto
GDLC Etf  USD 41.40  0.35  0.84%   
The current 90-days correlation between Grayscale CoinDesk Crypto and OShares Quality Dividend is 0.19 (i.e., Average 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 weak diversification

The correlation between Grayscale CoinDesk Crypto and DJI is 0.4 (i.e., Very weak 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 industry.

Moving together with Grayscale OTC Etf

  0.79NFLX NetflixPairCorr

Moving against Grayscale OTC Etf

  0.86TOAK Manager Directed PorPairCorr
  0.84VHT Vanguard Health CarePairCorr
  0.82SLQD iShares 0 5PairCorr
  0.81JBBB Janus Detroit StreetPairCorr
  0.77FTW EQV Ventures Acquisition Symbol ChangePairCorr
  0.76FB ProShares Trust ProSharesPairCorr
  0.76PVAL Putnam Focused LargePairCorr
  0.72UJAN Innovator SP 500PairCorr
  0.71ELD WisdomTree EmergingPairCorr
  0.71CPSR Calamos SP 500PairCorr
  0.6SCO ProShares UltraShortPairCorr
  0.58VFMF Vanguard MultifactorPairCorr
  0.47PAUG Innovator Equity PowerPairCorr
  0.45DIAX Nuveen Dow 30SmPairCorr
  0.41MRSK Northern LightsPairCorr
  0.34IVV iShares Core SPPairCorr
  0.34ACWX iShares MSCI ACWIPairCorr
  0.33SPY SPDR SP 500PairCorr
  0.89JANJ Innovator ETFs TrustPairCorr
  0.85LABU Direxion Daily SPPairCorr
  0.83CARY Angel Oak IncomePairCorr
  0.83CORD T REX 2X Upward RallyPairCorr
  0.81EJAN Innovator MSCI EmergingPairCorr
  0.79BSMU Invesco BulletShares 2030PairCorr
  0.75HIDE Alpha Architect HighPairCorr
  0.74NDEC Innovator Growth 100PairCorr
  0.73NBFC Neuberger Berman ETFPairCorr
  0.72PMMR PGIM SP 500PairCorr
  0.7GAPR First Trust ExchangePairCorr
  0.69IBDU iShares Trust Sell-off TrendPairCorr

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

UBER
+ 0.84
MSFT
XOM
+ 0.76
F
MRK
+ 0.71
F
MSFT
+ 0.66
META
XOM
+ 0.64
MRK
T
+ 0.6
META
  

High negative correlations

MRK
- 0.84
UBER
MRK
- 0.77
MSFT
T
- 0.72
F
F
- 0.66
META
XOM
- 0.65
META
A
- 0.63
META

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  1.41 (0.29) 0.00 (0.25) 0.00 
 0.00 
 2.30 
(2.72)
 13.52 
MSFT  0.92 (0.14) 0.00 (0.16) 0.00 
 0.00 
 1.78 
(2.50)
 5.08 
UBER  1.49 (0.34) 0.00 (0.26) 0.00 
 0.00 
 2.60 
(3.82)
 10.51 
F  1.49  0.17  0.10  0.17  1.70 
(1.62)
 3.38 
(2.63)
 16.30 
T  0.95 (0.27) 0.00 (0.91) 0.00 
 0.00 
 1.61 
(2.18)
 5.75 
A  1.25  0.08  0.06  0.13  1.31 
(1.33)
 2.34 
(2.21)
 11.03 
CRM  1.58  0.06  0.03  0.11  2.05 
(1.53)
 3.66 
(2.92)
 9.91 
JPM  1.03 (0.02)(0.01) 0.04  1.40 
(1.03)
 2.00 
(1.91)
 7.02 
MRK  1.47  0.35  0.25  0.47  1.11 
(1.91)
 4.85 
(2.06)
 11.45 
XOM  0.96  0.07  0.02  0.36  0.99 
(1.01)
 1.96 
(1.51)
 4.99 

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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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