21Shares Bitcoin Correlations

ABBA Etf

CHF 26.37 1.43 5.14%

The current 90-days correlation between 21Shares Bitcoin Suisse and 21Shares Polygon ETP is 0.06 (i.e., Significant diversification). The correlation of 21Shares 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.

21Shares Bitcoin Correlation With Market

Modest diversification

The correlation between 21Shares Bitcoin Suisse and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21Shares Bitcoin Suisse and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 21Shares Bitcoin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 21Shares Bitcoin when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back 21Shares Bitcoin - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling 21Shares Bitcoin Suisse to buy it.

Moving together with 21Shares Etf

0.61	BTCW	WisdomTree Physical	Pair Corr
0.73	MOON	Sygnum Platform Winners	Pair Corr
0.85	KEYS	21Shares Bitwise Select	Pair Corr

Moving against 21Shares Etf

0.57	LYJPN	Lyxor Japan UCITS	Pair Corr
0.54	CSNKY	iShares VII PLC	Pair Corr
0.52	BATT	LG Battery Value	Pair Corr
0.4	JPNJPA	UBSFund Solutions MSCI	Pair Corr
0.37	MSE	Amundi EURO STOXX	Pair Corr
0.65	STUX	SPDR MSCI Europe	Pair Corr
0.6	CSBGE3	iShares VII PLC	Pair Corr
0.54	CSKR	iShares VII PLC	Pair Corr
0.49	XEOU	Xtrackers MSCI Europe	Pair Corr
0.45	VHYL	Vanguard FTSE All	Pair Corr
0.43	EXCH	iShares MSCI EM	Pair Corr
0.32	ELCR	Amundi MSCI Future	Pair Corr
0.32	IFFF	iShares MSCI AC	Pair Corr
0.32	XSMC	Xtrackers Switzerland	Pair Corr
0.31	EMUUSD	UBSFund Solutions MSCI	Pair Corr
0.53	CSUK	iShares VII PLC	Pair Corr
0.52	ISJP	iShares MSCI Japan	Pair Corr
0.52	WPAB	iShares MSCI World	Pair Corr
0.48	EUFM	UBSFund Solutions MSCI	Pair Corr
0.46	CMES	iShares JP Morgan	Pair Corr
0.45	CTEK	Global X CleanTech	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	0.47	-0.72	0.71	-0.7	0.23	-0.3	-0.64	-0.63	META
MSFT	0.16		0.34	0.21	-0.44	0.38	0.3	0.13	0.11	0.01	MSFT
UBER	0.47	0.34		-0.25	0.19	-0.31	0.09	0.34	-0.42	-0.2	UBER
F	-0.72	0.21	-0.25		-0.76	0.8	0.09	0.38	0.59	0.72	F
T	0.71	-0.44	0.19	-0.76		-0.92	-0.09	-0.31	-0.6	-0.53	T
A	-0.7	0.38	-0.31	0.8	-0.92		0.08	0.33	0.64	0.56	A
CRM	0.23	0.3	0.09	0.09	-0.09	0.08		-0.23	-0.16	-0.18	CRM
JPM	-0.3	0.13	0.34	0.38	-0.31	0.33	-0.23		-0.13	0.52	JPM
MRK	-0.64	0.11	-0.42	0.59	-0.6	0.64	-0.16	-0.13		0.44	MRK
XOM	-0.63	0.01	-0.2	0.72	-0.53	0.56	-0.18	0.52	0.44		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

A	+ 0.8	F
XOM	+ 0.72	F
T	+ 0.71	META
MRK	+ 0.64	A
MRK	+ 0.59	F
XOM	+ 0.56	A

High negative correlations

A	- 0.92	T
T	- 0.76	F
F	- 0.72	META
A	- 0.7	META
MRK	- 0.64	META
XOM	- 0.63	META

21Shares Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between 21Shares Etf performing well and 21Shares 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 21Shares 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	1.25	(0.36)	0.00	1.92	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.82	(0.07)	0.00	(3.80)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.42	(0.12)	0.00	(0.09)	0.00	0.00	3.34	(2.71)	9.09
F	1.42	0.15	0.09	0.14	1.54	(1.67)	3.66	(2.07)	16.30
T	0.99	(0.20)	0.00	(0.94)	0.00	0.00	1.84	(2.32)	6.25
A	1.30	0.25	0.18	0.22	1.13	(1.45)	3.82	(2.15)	11.03
CRM	1.59	(0.14)	0.00	(0.10)	0.00	0.00	2.93	(3.61)	9.91
JPM	0.87	0.03	0.03	0.07	1.29	(0.82)	1.67	(1.91)	5.76
MRK	1.26	0.23	0.15	6.41	1.12	(1.60)	3.84	(2.36)	11.45
XOM	0.94	0.13	0.08	0.50	1.12	(0.92)	1.78	(1.93)	4.71

Be your own money manager

Our tools can tell you how much better you can do entering a position in 21Shares Bitcoin without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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