Roundhill Bitcoin Correlations

YBTC Etf

47.45 1.51 3.08%

The correlation of Roundhill 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.

Roundhill Bitcoin Correlation With Market

Good diversification

The correlation between Roundhill Bitcoin Covered and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Bitcoin Covered and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Roundhill Etf

0.62	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.92	BITO	ProShares Bitcoin	Pair Corr
0.64	BLOK	Amplify Transformational	Pair Corr
0.68	SPBC	Simplify Equity PLUS	Pair Corr
0.94	BTC	Grayscale Bitcoin Mini	Pair Corr
0.64	QTJA	Innovator ETFs Trust	Pair Corr
0.75	QTOC	Innovator ETFs Trust	Pair Corr
0.78	QTAP	Innovator Growth 100	Pair Corr
0.64	XTJA	Innovator ETFs Trust	Pair Corr
0.7	XTAP	Innovator Equity Acc	Pair Corr
0.77	HFGO	Hartford Large Cap Low Volatility	Pair Corr
0.69	IBIC	iShares Trust	Pair Corr
0.63	AXP	American Express Sell-off Trend	Pair Corr
0.65	WMT	Walmart Aggressive Push	Pair Corr
0.66	BA	Boeing	Pair Corr

Moving against Roundhill Etf

0.6	XOM	Exxon Mobil Corp	Pair Corr
0.54	AA	Alcoa Corp	Pair Corr
0.45	TRV	The Travelers Companies	Pair Corr
0.44	DD	Dupont De Nemours	Pair Corr
0.35	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.22	-0.28	-0.51	0.73	0.78	0.44	0.75	-0.44	-0.59	META
MSFT	0.22		-0.53	-0.12	0.2	0.24	0.67	0.09	0.18	-0.36	MSFT
UBER	-0.28	-0.53		0.64	-0.12	-0.03	-0.48	0.03	-0.03	0.78	UBER
F	-0.51	-0.12	0.64		-0.06	-0.35	0.01	-0.13	0.17	0.9	F
T	0.73	0.2	-0.12	-0.06		0.48	0.62	0.67	-0.37	-0.21	T
A	0.78	0.24	-0.03	-0.35	0.48		0.2	0.74	-0.24	-0.4	A
CRM	0.44	0.67	-0.48	0.01	0.62	0.2		0.37	-0.06	-0.28	CRM
JPM	0.75	0.09	0.03	-0.13	0.67	0.74	0.37		-0.57	-0.25	JPM
MRK	-0.44	0.18	-0.03	0.17	-0.37	-0.24	-0.06	-0.57		0.13	MRK
XOM	-0.59	-0.36	0.78	0.9	-0.21	-0.4	-0.28	-0.25	0.13		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

XOM	+ 0.9	F
A	+ 0.78	META
XOM	+ 0.78	UBER
JPM	+ 0.75	META
JPM	+ 0.74	A
T	+ 0.73	META

High negative correlations

XOM	- 0.59	META
MRK	- 0.57	JPM
UBER	- 0.53	MSFT
F	- 0.51	META
CRM	- 0.48	UBER
MRK	- 0.44	META

Roundhill Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill 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 Roundhill 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	1.32	0.31	0.18	0.77	1.17	(1.50)	3.43	(1.95)	7.43
MSFT	1.02	0.03	(0.03)	0.25	1.63	(0.99)	2.20	(2.14)	10.31
UBER	1.66	(0.03)	0.00	(0.35)	0.00	0.00	3.36	(5.35)	12.29
F	1.46	(0.19)	0.00	(0.18)	0.00	0.00	2.57	(2.90)	9.39
T	0.98	0.10	0.05	0.30	1.04	(1.13)	1.91	(1.84)	7.94
A	1.22	0.15	0.08	0.37	1.12	(1.44)	2.92	(2.16)	8.06
CRM	1.58	0.18	0.07	0.53	1.72	(1.80)	3.70	(2.95)	14.80
JPM	1.02	0.32	0.21	1.00	0.92	(1.24)	1.97	(1.42)	15.87
MRK	1.15	(0.23)	0.00	(0.87)	0.00	0.00	2.00	(2.13)	11.57
XOM	0.89	(0.15)	0.00	(0.21)	0.00	0.00	1.71	(1.93)	6.06

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