21Shares Ripple Correlations
| AXRP Etf | CHF 13.59 0.16 1.19% |
The correlation of 21Shares Ripple 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 21Shares Ripple moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 21Shares Ripple XRP moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between 21Shares Ripple XRP and NYA is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21Shares Ripple XRP and NYA in the same portfolio, assuming nothing else is changed.
21Shares |
The ability to find closely correlated positions to 21Shares Ripple could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 21Shares Ripple 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 21Shares Ripple - 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 21Shares Ripple XRP to buy it.
Moving together with 21Shares Etf
| 0.69 | JPNJPA | UBSFund Solutions MSCI | PairCorr |
| 0.73 | CSNKY | iShares VII PLC | PairCorr |
| 0.75 | CSSPX | iShares Core SP | PairCorr |
| 0.72 | IUSA | iShares SP 500 | PairCorr |
| 0.63 | MSE | Lyxor UCITS Stoxx | PairCorr |
| 0.65 | IEMB | iShares JP Morgan | PairCorr |
| 0.72 | BTCW | WisdomTree Bitcoin EUR | PairCorr |
| 0.85 | MOON | Sygnum Platform Winners | PairCorr |
| 0.8 | KEYS | 21Shares Bitwise Select | PairCorr |
| 0.76 | ABBA | 21Shares Bitcoin Suisse | PairCorr |
| 0.65 | LYLVD | MULTI UNITS LUXEMBOURG | PairCorr |
| 0.76 | ELCR | Lyxor Index Fund | PairCorr |
| 0.68 | ITEK | HAN GINS Tech | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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21Shares Ripple Competition Risk-Adjusted Indicators
There is a big difference between 21Shares Etf performing well and 21Shares Ripple 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 21Shares Ripple'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 | 1.95 | 0.20 | 0.09 | 0.21 | 2.32 | 3.27 | 30.88 | |||
| MSFT | 1.04 | (0.03) | (0.02) | 0.03 | 1.20 | 2.22 | 5.87 | |||
| UBER | 1.64 | 0.01 | 0.03 | 0.07 | 1.69 | 2.83 | 18.39 | |||
| F | 1.55 | (0.04) | 0.02 | 0.05 | 1.93 | 4.88 | 10.80 | |||
| T | 0.85 | (0.09) | 0.00 | (0.25) | 0.00 | 1.61 | 4.04 | |||
| A | 1.20 | 0.10 | 0.02 | (22.12) | 1.31 | 2.29 | 6.31 | |||
| CRM | 1.20 | (0.13) | 0.00 | (0.02) | 0.00 | 2.64 | 10.84 | |||
| JPM | 0.76 | 0.08 | 0.06 | 0.13 | 1.26 | 1.94 | 8.65 | |||
| MRK | 0.61 | (0.02) | (0.06) | 0.03 | 0.71 | 1.18 | 6.69 | |||
| XOM | 0.79 | 0.18 | 0.14 | 0.48 | 0.77 | 1.77 | 5.64 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in 21Shares Ripple 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.Did you try this?
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Already Invested in 21Shares Ripple XRP?
The danger of trading 21Shares Ripple XRP is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of 21Shares Ripple is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than 21Shares Ripple. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile 21Shares Ripple XRP is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in 21Shares Ripple XRP. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Please note, there is a significant difference between 21Shares Ripple's value and its price as these two are different measures arrived at by different means. Investors typically determine if 21Shares Ripple is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, 21Shares Ripple's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.