Solana ETF Correlations

SOLZ Etf

12.78 0.02 0.16%

The current 90-days correlation between Solana ETF and SPDR Galaxy Digital is 0.59 (i.e., Very weak diversification). The correlation of Solana ETF 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.

Solana ETF Correlation With Market

Weak diversification

The correlation between Solana ETF and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solana ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Solana Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Solana ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more information on how to buy Solana Etf please use our How to Invest in Solana ETF guide.

Moving together with Solana Etf

0.97	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.97	BITO	ProShares Bitcoin	Pair Corr
0.97	BTC	Grayscale Bitcoin Mini	Pair Corr
0.95	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.66	BCDF	Listed Funds Trust	Pair Corr
0.71	PG	Procter Gamble	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.66	T	ATT Inc	Pair Corr

Moving against Solana Etf

0.84	MEDI	Harbor Health Care	Pair Corr
0.84	IBTI	iShares iBonds Dec	Pair Corr
0.77	MLPR	ETRACS Quarterly Pay	Pair Corr
0.77	FIAX	Nicholas Fixed Income	Pair Corr
0.76	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.69	DGP	DB Gold Double	Pair Corr
0.61	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.59	FELV	Fidelity Covington Trust	Pair Corr
0.45	LEGR	First Trust Indxx	Pair Corr
0.34	SCHX	Schwab Large Cap	Pair Corr
0.91	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.9	DD	Dupont De Nemours	Pair Corr
0.86	KO	Coca Cola	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.83	JNJ	Johnson Johnson	Pair Corr
0.79	MRK	Merck Company Aggressive Push	Pair Corr
0.76	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.7	BAC	Bank of America	Pair Corr
0.68	IBM	International Business	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.62	WMT	Walmart Common Stock	Pair Corr
0.6	BFEB	Innovator SP 500	Pair Corr
0.6	TRV	The Travelers Companies	Pair Corr
0.33	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.59	-0.66	0.6	-0.63	0.24	-0.12	-0.61	-0.65	META
MSFT	0.66		0.84	-0.51	0.36	-0.25	0.12	-0.27	-0.77	-0.6	MSFT
UBER	0.59	0.84		-0.62	0.58	-0.37	-0.05	-0.13	-0.84	-0.57	UBER
F	-0.66	-0.51	-0.62		-0.72	0.59	0.25	0.35	0.71	0.76	F
T	0.6	0.36	0.58	-0.72		-0.61	-0.41	-0.09	-0.55	-0.49	T
A	-0.63	-0.25	-0.37	0.59	-0.61		-0.16	-0.26	0.56	0.32	A
CRM	0.24	0.12	-0.05	0.25	-0.41	-0.16		0.29	-0.03	0.09	CRM
JPM	-0.12	-0.27	-0.13	0.35	-0.09	-0.26	0.29		0.18	0.3	JPM
MRK	-0.61	-0.77	-0.84	0.71	-0.55	0.56	-0.03	0.18		0.64	MRK
XOM	-0.65	-0.6	-0.57	0.76	-0.49	0.32	0.09	0.3	0.64		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	+ 0.84	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

Solana ETF Competition Risk-Adjusted Indicators

There is a big difference between Solana Etf performing well and Solana ETF 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 Solana ETF'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	1.41	(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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