Harvest MicroStrategy Correlations

MSTE Etf

5.06 0.09 1.81%

The current 90-days correlation between Harvest MicroStrategy and Harvest Premium Yield is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harvest MicroStrategy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest MicroStrategy Enhanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harvest MicroStrategy Correlation With Market

Modest diversification

The correlation between Harvest MicroStrategy Enhanced and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harvest MicroStrategy Enhanced and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Harvest MicroStrategy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Harvest MicroStrategy 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 Harvest MicroStrategy - 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 Harvest MicroStrategy Enhanced to buy it.

Moving together with Harvest Etf

0.97	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.96	BTCC	Purpose Bitcoin ETF	Pair Corr
0.94	ETHQ	3iQ Ether Staking	Pair Corr
0.97	EBIT	Bitcoin ETF CAD	Pair Corr
0.97	FBTC	Fidelity Advantage	Pair Corr
0.95	CBCX	CI Galaxy Blockchain	Pair Corr
0.97	ETC	Evolve Cryptocurrencies	Pair Corr

Moving against Harvest Etf

0.89	BITI	BetaPro Inverse Bitcoin	Pair Corr
0.78	HUV	BetaPro SP 500	Pair Corr
0.71	EIT-UN	Canoe EIT Income	Pair Corr
0.67	HGU	BetaPro Canadian Gold	Pair Corr
0.67	ZGD	BMO Equal Weight	Pair Corr
0.61	HZU	BetaPro Silver 2x	Pair Corr
0.6	PFLS	Picton Mahoney Fortified	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.32	-0.39	0.24	-0.24	0.43	-0.19	-0.35	-0.43	META
MSFT	0.6		0.8	-0.55	0.48	0.06	0.13	-0.45	-0.84	-0.7	MSFT
UBER	0.32	0.8		-0.49	0.44	0.32	-0.14	-0.5	-0.81	-0.54	UBER
F	-0.39	-0.55	-0.49		-0.71	0.09	0.24	0.66	0.71	0.73	F
T	0.24	0.48	0.44	-0.71		0.32	-0.45	-0.6	-0.51	-0.64	T
A	-0.24	0.06	0.32	0.09	0.32		-0.5	-0.26	-0.06	-0.09	A
CRM	0.43	0.13	-0.14	0.24	-0.45	-0.5		0.52	0.11	0.02	CRM
JPM	-0.19	-0.45	-0.5	0.66	-0.6	-0.26	0.52		0.64	0.52	JPM
MRK	-0.35	-0.84	-0.81	0.71	-0.51	-0.06	0.11	0.64		0.79	MRK
XOM	-0.43	-0.7	-0.54	0.73	-0.64	-0.09	0.02	0.52	0.79		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

UBER	+ 0.8	MSFT
XOM	+ 0.79	MRK
XOM	+ 0.73	F
MRK	+ 0.71	F
JPM	+ 0.66	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
T	- 0.71	F
XOM	- 0.7	MSFT
XOM	- 0.64	T
JPM	- 0.6	T

Harvest MicroStrategy Competition Risk-Adjusted Indicators

There is a big difference between Harvest Etf performing well and Harvest MicroStrategy 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 Harvest MicroStrategy'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	1.32	(0.28)	0.00	(0.20)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.94	(0.21)	0.00	(0.38)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.46	(0.23)	0.00	(0.17)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.13	0.12	0.18	1.27	(1.72)	3.38	(2.35)	16.30
T	0.89	(0.18)	0.00	(0.42)	0.00	0.00	1.53	(1.85)	4.30
A	1.14	(0.09)	(0.05)	0.02	1.39	(1.20)	2.34	(2.22)	6.50
CRM	1.57	(0.16)	0.00	(0.06)	0.00	0.00	3.66	(2.92)	12.37
JPM	1.12	(0.07)	(0.02)	0.04	1.59	(1.13)	2.00	(2.34)	7.38
MRK	1.23	0.32	0.23	0.44	1.01	(1.55)	3.59	(1.98)	8.09
XOM	1.07	0.23	0.12	2.92	0.98	(1.24)	2.37	(1.51)	5.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Harvest MicroStrategy 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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