ETHetc ETC Correlations

ZETH Etf

34.80 0.63 1.78%

The current 90-days correlation between ETHetc ETC and Amundi Index Solutions is 0.01 (i.e., Significant diversification). The correlation of ETHetc ETC 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.

ETHetc ETC Correlation With Market

Weak diversification

The correlation between ETHetc ETC and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETHetc ETC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ETHetc Etf

0.68	JPN	Lyxor UCITS Japan	Pair Corr
0.67	EMLD	SSgA SPDR ETFs	Pair Corr
0.92	HHH	HSBC SP 500	Pair Corr
0.92	SPY5	SPDR SP 500	Pair Corr

Moving against ETHetc Etf

0.61	CAC	Amundi CAC 40	Pair Corr
0.61	CACC	Lyxor CAC 40	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	-0.5	-0.46	0.5	0.16	0.65	0.36	-0.36	-0.28	META
MSFT	0.56		-0.63	-0.38	0.38	0.07	0.39	0.14	0.02	-0.8	MSFT
UBER	-0.5	-0.63		0.29	-0.71	0.13	-0.72	-0.51	0.49	0.6	UBER
F	-0.46	-0.38	0.29		0.08	-0.36	0.03	0.38	-0.18	0.51	F
T	0.5	0.38	-0.71	0.08		-0.31	0.88	0.85	-0.75	-0.22	T
A	0.16	0.07	0.13	-0.36	-0.31		-0.32	-0.5	0.6	-0.1	A
CRM	0.65	0.39	-0.72	0.03	0.88	-0.32		0.89	-0.82	-0.19	CRM
JPM	0.36	0.14	-0.51	0.38	0.85	-0.5	0.89		-0.87	0.02	JPM
MRK	-0.36	0.02	0.49	-0.18	-0.75	0.6	-0.82	-0.87		-0.1	MRK
XOM	-0.28	-0.8	0.6	0.51	-0.22	-0.1	-0.19	0.02	-0.1		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

JPM	+ 0.89	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
CRM	+ 0.65	META
XOM	+ 0.6	UBER
MRK	+ 0.6	A

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.82	CRM
XOM	- 0.8	MSFT
MRK	- 0.75	T
CRM	- 0.72	UBER
T	- 0.71	UBER

ETHetc ETC Competition Risk-Adjusted Indicators

There is a big difference between ETHetc Etf performing well and ETHetc ETC 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 ETHetc ETC'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	1.15	0.23	0.14	1.24	1.26	(1.30)	3.22	(1.87)	8.02
MSFT	0.85	0.08	0.04	(0.34)	1.45	(0.81)	1.83	(1.57)	8.14
UBER	1.73	(0.25)	0.00	(0.26)	0.00	0.00	2.67	(5.35)	20.41
F	1.43	(0.17)	0.00	(0.11)	0.00	0.00	2.53	(2.90)	11.21
T	0.97	0.06	0.04	0.45	1.16	(1.05)	1.93	(1.99)	7.95
A	1.26	(0.06)	0.00	(0.11)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.50	0.49	0.31	(14.75)	1.11	(1.75)	3.59	(1.93)	13.87
JPM	1.02	0.13	0.11	0.09	1.11	(1.19)	1.65	(1.44)	15.87
MRK	0.92	(0.24)	0.00	(1.54)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.91	(0.06)	0.00	(0.33)	0.00	0.00	1.83	(2.14)	6.06

ETHetc ETC Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ETHetc ETC etf to make a market-neutral strategy. Peer analysis of ETHetc ETC could also be used in its relative valuation, which is a method of valuing ETHetc ETC by comparing valuation metrics with similar companies.

ETHetc ETC Amundi Index Solutions Multi Units Luxembourg iShares Digital Entertainment Amundi Index Solutions BNP PARIBAS EASY Granite 3x LVMH WisdomTree Wheat EUR Granite 3x NFLX American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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