IShares Bitcoin Correlations

IBIT Etf

USD 66.68 0.97 1.43%

The current 90-days correlation between iShares Bitcoin Trust and Grayscale Funds Trust is 0.68 (i.e., Poor diversification). The correlation of IShares 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.

IShares Bitcoin Correlation With Market

Good diversification

The correlation between iShares Bitcoin Trust and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Bitcoin Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Bitcoin Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with IShares Etf

0.82	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.81	BITO	ProShares Bitcoin	Pair Corr
0.77	BLOK	Amplify Transformational	Pair Corr
0.75	BLCN	Siren Nasdaq NexGen	Pair Corr
0.77	LEGR	First Trust Indxx	Pair Corr
0.93	BITQ	Bitwise Crypto Industry	Pair Corr
0.78	SPBC	Simplify Equity PLUS	Pair Corr
0.82	BTC	Grayscale Bitcoin Mini	Pair Corr
0.77	DAPP	VanEck Digital Trans	Pair Corr
0.78	CRPT	First Trust SkyBridge	Pair Corr
0.75	USD	ProShares Ultra Semi	Pair Corr
0.87	FNGO	MicroSectors FANG Index	Pair Corr
0.73	NRGU	Bank of Montreal	Pair Corr
0.76	BULZ	MicroSectors Solactive	Pair Corr
0.78	BITS	Global X Blockchain	Pair Corr
0.74	FNGG	Direxion Daily Select	Pair Corr
0.66	DFEN	Direxion Daily Aerospace	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.65	MMM	3M Company	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr

Moving against IShares Etf

0.39

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

IShares Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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 IShares 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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