Valkyrie Bitcoin Correlations

BTFX Etf

63.49 1.91 2.92%

The current 90-days correlation between Valkyrie Bitcoin Futures and Grayscale Bitcoin Trust is 1.0 (i.e., No risk reduction). The correlation of Valkyrie 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.

Valkyrie Bitcoin Correlation With Market

Average diversification

The correlation between Valkyrie Bitcoin Futures 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 Valkyrie Bitcoin Futures and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Valkyrie Etf

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

Moving together with Valkyrie Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin	Pair Corr
0.91	BLOK	Amplify Transformational	Pair Corr
0.91	BLCN	Siren Nasdaq NexGen	Pair Corr
0.88	LEGR	First Trust Indxx	Pair Corr
0.93	BITQ	Bitwise Crypto Industry	Pair Corr
0.91	SPBC	Simplify Equity PLUS	Pair Corr
1.0	BTC	Grayscale Bitcoin Mini	Pair Corr
0.9	DAPP	VanEck Digital Trans	Pair Corr
0.92	CRPT	First Trust SkyBridge	Pair Corr
0.87	USD	ProShares Ultra Semi	Pair Corr
0.87	FNGO	MicroSectors FANG Index	Pair Corr
0.76	NRGU	Bank of Montreal	Pair Corr
0.89	BULZ	MicroSectors Solactive	Pair Corr
0.96	BITS	Global X Blockchain	Pair Corr
0.86	FNGG	Direxion Daily Select	Pair Corr
0.88	DFEN	Direxion Daily Aerospace	Pair Corr
0.94	BA	Boeing	Pair Corr
0.7	INTC	Intel Earnings Call This Week	Pair Corr
0.9	CAT	Caterpillar	Pair Corr
0.9	MMM	3M Company	Pair Corr
0.83	BAC	Bank of America	Pair Corr
0.85	DIS	Walt Disney	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr
0.72	CVX	Chevron Corp	Pair Corr
0.74	IBM	International Business Earnings Call This Week	Pair Corr
0.9	DD	Dupont De Nemours	Pair Corr
0.75	PFE	Pfizer Inc	Pair Corr
0.88	GE	GE Aerospace Earnings Call This Week	Pair Corr

Moving against Valkyrie Etf

0.48	PG	Procter Gamble	Pair Corr
0.42	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.56	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.55	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.5	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.72	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.22	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.67	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.11	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.64	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.55	MRK
XOM	0.56	0.55	0.5	0.72	0.22	0.67	-0.11	0.64	0.55		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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.11	CRM

Valkyrie Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between Valkyrie Etf performing well and Valkyrie 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 Valkyrie 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	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.05	(0.04)	0.41	1.36	(1.15)	2.40	(2.58)	5.84

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