Calamos Bitcoin Correlations

CBTJ Etf

26.35 0.16 0.60%

The current 90-days correlation between Calamos Bitcoin 80 and Grayscale Funds Trust is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Calamos Bitcoin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Calamos Bitcoin 80 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Calamos Bitcoin Correlation With Market

Very weak diversification

The correlation between Calamos Bitcoin 80 and DJI is 0.43 (i.e., Very weak 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.

Build AI portfolio with Calamos Etf

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 together with Calamos Etf

0.82	VTI	Vanguard Total Stock	Pair Corr
0.82	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.82	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.89	VUG	Vanguard Growth Index Sell-off Trend	Pair Corr
0.82	VO	Vanguard Mid Cap	Pair Corr
0.89	VEA	Vanguard FTSE Developed	Pair Corr
0.72	VB	Vanguard Small Cap	Pair Corr
0.82	VWO	Vanguard FTSE Emerging	Pair Corr
0.84	ITDD	iShares Trust	Pair Corr
0.7	ITWO	Proshares Russell 2000	Pair Corr
0.88	NIKL	Sprott Nickel Miners	Pair Corr
1.0	ARKB	ARK 21Shares Bitcoin	Pair Corr
0.85	GSIG	Goldman Sachs Access	Pair Corr
0.79	AOHY	Angel Oak High	Pair Corr
0.95	NFXL	Direxion Daily NFLX	Pair Corr
0.88	AGEM	abrdn Emerging Markets	Pair Corr
0.93	DWMF	WisdomTree International	Pair Corr
0.87	HWAY	Themes Infrastructure ETF	Pair Corr
0.83	WTMF	WisdomTree Managed	Pair Corr
0.88	STXI	EA Series Trust	Pair Corr
0.92	FID	First Trust Intl	Pair Corr
0.84	FLXR	TCW ETF Trust	Pair Corr
0.78	SOXX	iShares Semiconductor ETF	Pair Corr
0.85	BLLD	JPMorgan	Pair Corr
0.69	GLDM	SPDR Gold Mini	Pair Corr
0.82	DVQQ	WEBs Defined Volatility	Pair Corr
0.73	COPJ	Sprott Junior Copper	Pair Corr
0.9	NBGX	Neuberger Berman ETF	Pair Corr
0.92	VOLT	Tema Electrification ETF	Pair Corr
0.68	EMCG	Embrace Change Acqui	Pair Corr
0.68	OBND	SSGA Active Trust	Pair Corr
0.82	FMIL	Fidelity New Millennium	Pair Corr
0.78	PICB	Invesco International	Pair Corr
0.78	DCPE	DoubleLine Shiller CAPE	Pair Corr
0.92	FORH	Formidable ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.91	0.74	0.81	0.47	0.67	0.53	0.9	-0.17	0.13	META
MSFT	0.91		0.89	0.84	0.54	0.37	0.43	0.94	-0.47	-0.17	MSFT
UBER	0.74	0.89		0.89	0.46	0.26	0.61	0.91	-0.51	-0.19	UBER
F	0.81	0.84	0.89		0.49	0.56	0.7	0.9	-0.21	0.17	F
T	0.47	0.54	0.46	0.49		0.25	0.14	0.58	-0.17	0.13	T
A	0.67	0.37	0.26	0.56	0.25		0.6	0.47	0.55	0.7	A
CRM	0.53	0.43	0.61	0.7	0.14	0.6		0.54	0.17	0.31	CRM
JPM	0.9	0.94	0.91	0.9	0.58	0.47	0.54		-0.38	0.03	JPM
MRK	-0.17	-0.47	-0.51	-0.21	-0.17	0.55	0.17	-0.38		0.72	MRK
XOM	0.13	-0.17	-0.19	0.17	0.13	0.7	0.31	0.03	0.72		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	+ 0.94	MSFT
MSFT	+ 0.91	META
JPM	+ 0.91	UBER
JPM	+ 0.9	META
JPM	+ 0.9	F
UBER	+ 0.89	MSFT

High negative correlations

MRK	- 0.51	UBER
MRK	- 0.47	MSFT
MRK	- 0.38	JPM
MRK	- 0.21	F
XOM	- 0.19	UBER
MRK	- 0.17	T

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	2.11	0.23	0.08	0.16	2.52	(2.36)	4.23	(4.29)	21.50
MSFT	1.23	0.32	0.20	0.33	1.19	(1.34)	2.40	(2.36)	13.79
UBER	1.90	0.22	0.09	0.18	2.28	(2.09)	4.19	(3.48)	16.18
F	1.69	0.10	0.04	0.12	2.24	(1.72)	2.90	(3.84)	13.07
T	1.15	0.06	0.03	0.22	1.77	(1.16)	2.01	(2.62)	8.83
A	1.78	(0.08)	0.00	(0.05)	0.00	0.00	2.76	(4.15)	14.45
CRM	1.59	(0.12)	0.00	(0.08)	0.00	0.00	3.01	(3.64)	13.13
JPM	1.32	0.24	0.11	0.23	1.95	(1.38)	2.75	(2.12)	11.14
MRK	1.62	(0.25)	0.00	(0.34)	0.00	0.00	2.55	(4.72)	10.58
XOM	1.28	0.00	0.00	0.02	2.24	(1.20)	2.62	(2.77)	10.53

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