Grayscale Bitcoin Correlations

BCOR Etf

USD 34.89 0.23 0.65%

The current 90-days correlation between Grayscale Bitcoin and Franklin Templeton ETF is 0.22 (i.e., Modest diversification). The correlation of Grayscale 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.

Grayscale Bitcoin Correlation With Market

Average diversification

The correlation between Grayscale Bitcoin Adopters and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Bitcoin Adopters and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Grayscale Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Grayscale Bitcoin Adopters. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving against Grayscale Etf

0.53	RFMZ	RiverNorth Flexible	Pair Corr
0.5	BHK	BlackRock Core Bond	Pair Corr
0.34	RMM	RiverNorth Managed	Pair Corr
0.31	FRHC	Freedom Holding Corp Normal Trading	Pair Corr

Related Correlations Analysis

	DIEM	DIPS	DISO	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO
DIEM		-0.97	0.95	0.98	0.97	0.95	0.96	0.97	0.98	DIEM
DIPS	-0.97		-0.96	-0.96	-0.95	-0.92	-0.93	-0.96	-0.97	DIPS
DISO	0.95	-0.96		0.96	0.94	0.89	0.95	0.95	0.94	DISO
DIVB	0.98	-0.96	0.96		0.98	0.98	0.96	0.99	0.99	DIVB
DIVD	0.97	-0.95	0.94	0.98		0.95	0.98	0.98	0.97	DIVD
DIVG	0.95	-0.92	0.89	0.98	0.95		0.9	0.97	0.97	DIVG
DIVI	0.96	-0.93	0.95	0.96	0.98	0.9		0.95	0.94	DIVI
DIVL	0.97	-0.96	0.95	0.99	0.98	0.97	0.95		0.99	DIVL
DIVO	0.98	-0.97	0.94	0.99	0.97	0.97	0.94	0.99		DIVO
	DIEM	DIPS	DISO	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO

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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

DIVL	+ 0.99	DIVB
DIVO	+ 0.99	DIVB
DIVO	+ 0.99	DIVL
DIVB	+ 0.98	DIEM
DIVO	+ 0.98	DIEM
DIVD	+ 0.98	DIVB

High negative correlations

DIVO	- 0.97	DIPS
DIPS	- 0.97	DIEM
DIVL	- 0.96	DIPS
DIVB	- 0.96	DIPS
DISO	- 0.96	DIPS
DIVD	- 0.95	DIPS

Grayscale Bitcoin Constituents Risk-Adjusted Indicators

There is a big difference between Grayscale Etf performing well and Grayscale 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 Grayscale 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
DIEM	0.55	0.18	0.18	0.53	0.11	(0.68)	1.52	(1.02)	4.00
DIPS	1.51	(0.46)	0.00	0.59	0.00	0.00	2.74	(4.05)	13.70
DISO	0.83	0.30	0.29	0.61	0.35	(1.10)	1.85	(1.28)	8.62
DIVB	0.62	0.08	0.06	0.23	0.49	(0.71)	1.64	(1.21)	4.54
DIVD	0.54	0.07	0.03	0.26	0.45	(0.61)	1.31	(1.13)	3.11
DIVG	0.63	0.03	0.00	0.17	0.72	(0.65)	1.45	(1.19)	4.55
DIVI	0.57	0.12	0.07	0.39	0.41	(0.64)	1.37	(1.07)	3.32
DIVL	0.62	0.04	(0.01)	0.19	0.66	(0.70)	1.46	(1.33)	5.05
DIVO	0.48	0.03	(0.02)	0.17	0.50	(0.55)	1.31	(1.10)	3.08

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