Calamos Bitcoin Correlations

CBTA Etf   32.13  0.19  0.59%   
The current 90-days correlation between Calamos Bitcoin 80 and Grayscale Funds Trust is 0.53 (i.e., Very weak diversification). The correlation of Calamos 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.

Calamos Bitcoin Correlation With Market

Modest diversification

The correlation between Calamos Bitcoin 80 and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Bitcoin 80 and DJI in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Calamos Bitcoin 80. 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 against Calamos Etf

  0.48MCD McDonaldsPairCorr
  0.44TRV The Travelers CompaniesPairCorr

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   
MSFTMETA
JPMMSFT
JPMMETA
AMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM

Calamos Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between Calamos Etf performing well and Calamos 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 Calamos 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.50  0.30  0.24  0.36  1.02 
 3.99 
 10.48 
MSFT  0.89  0.31  0.27  0.48  0.52 
 2.33 
 8.85 
UBER  1.63  0.19  0.12  0.32  1.40 
 4.19 
 10.87 
F  1.29  0.20  0.10  0.41  1.39 
 2.69 
 7.46 
T  1.03 (0.05)(0.09) 0.02  1.34 
 2.35 
 5.71 
A  1.46  0.18  0.00 (0.42) 1.81 
 2.54 
 14.01 
CRM  1.33 (0.14)(0.05) 0.04  1.71 
 2.95 
 9.31 
JPM  0.90  0.35  0.18 (2.74) 0.67 
 2.25 
 6.03 
MRK  1.38 (0.09)(0.05) 0.04  1.96 
 2.88 
 10.58 
XOM  1.13  0.06 (0.03) 0.46  1.38 
 2.40 
 6.28