YieldMax Bitcoin Correlations

YBIT Etf

32.53 0.54 1.69%

The current 90-days correlation between YieldMax Bitcoin Option and Exchange Listed Funds is 0.39 (i.e., Weak diversification). The correlation of YieldMax Bitcoin 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.

YieldMax Bitcoin Correlation With Market

Very good diversification

The correlation between YieldMax Bitcoin Option and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding YieldMax Bitcoin Option and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with YieldMax Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in YieldMax Bitcoin Option. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with YieldMax Etf

0.95	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin	Pair Corr
0.95	BTC	Grayscale Bitcoin Mini	Pair Corr
0.67	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.83	XOVR	ERShares Private Public	Pair Corr
0.62	HD	Home Depot	Pair Corr
0.79	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr

Moving against YieldMax Etf

0.69	TRSY	Xtrackers 0 1	Pair Corr
0.61	GLDX	USCF Gold Strategy	Pair Corr
0.54	AAIAX	AMERICAN BEACON INTE	Pair Corr
0.49	LIT	Global X Lithium	Pair Corr
0.48	NVDS	AXS 125X NVDA	Pair Corr
0.45	CGIVX	CBRE CLARION GLOBAL	Pair Corr
0.44	LITL	Simplify Exchange Traded	Pair Corr
0.43	IWD	iShares Russell 1000	Pair Corr
0.39	FDV	First Trust Capital	Pair Corr
0.76	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.74	TRV	The Travelers Companies Sell-off Trend	Pair Corr
0.68	JANH	Innovator Equity Premium	Pair Corr
0.66	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.51	MCD	McDonalds	Pair Corr
0.49	KO	Coca Cola	Pair Corr
0.44	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.43	AA	Alcoa Corp	Pair Corr
0.32	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	0.23	-0.16	0.16	-0.11	0.52	-0.05	-0.24	-0.25	META
MSFT	0.54		0.78	-0.54	0.54	0.28	0.35	-0.22	-0.84	-0.72	MSFT
UBER	0.23	0.78		-0.45	0.46	0.51	0.02	-0.36	-0.8	-0.5	UBER
F	-0.16	-0.54	-0.45		-0.69	-0.12	0.09	0.58	0.67	0.59	F
T	0.16	0.54	0.46	-0.69		0.55	-0.13	-0.4	-0.49	-0.66	T
A	-0.11	0.28	0.51	-0.12	0.55		-0.33	-0.24	-0.26	-0.38	A
CRM	0.52	0.35	0.02	0.09	-0.13	-0.33		0.56	-0.11	-0.36	CRM
JPM	-0.05	-0.22	-0.36	0.58	-0.4	-0.24	0.56		0.45	0.1	JPM
MRK	-0.24	-0.84	-0.8	0.67	-0.49	-0.26	-0.11	0.45		0.73	MRK
XOM	-0.25	-0.72	-0.5	0.59	-0.66	-0.38	-0.36	0.1	0.73		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	+ 0.78	MSFT
XOM	+ 0.73	MRK
MRK	+ 0.67	F
XOM	+ 0.59	F
JPM	+ 0.58	F
JPM	+ 0.56	CRM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.72	MSFT
T	- 0.69	F
XOM	- 0.66	T
F	- 0.54	MSFT

YieldMax Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between YieldMax Etf performing well and YieldMax Bitcoin 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 YieldMax Bitcoin'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	1.44	(0.19)	0.00	(0.11)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.05	(0.17)	0.00	(0.45)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.23)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.03	0.04	0.09	1.38	(1.76)	3.38	(2.35)	16.30
T	0.87	(0.14)	0.00	(17.25)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.11)	0.00	(0.19)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.47	(0.27)	0.00	(0.18)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.12	(0.08)	(0.02)	0.02	1.70	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.27	0.19	0.45	1.11	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.39	0.95	(1.26)	2.38	(1.51)	5.82

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