21Shares Bitcoin Correlations

Etfs . Switzerland . 
Etf . 21Shares Bitcoin Cash
ABCH Etf  USD 20.31  0.39  1.96%   
The current 90-days correlation between 21Shares Bitcoin Cash and UBSFund Solutions MSCI is 0.01 (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

Average diversification

The correlation between 21Shares Bitcoin Cash and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21Shares Bitcoin Cash 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 Cash to buy it.

Moving together with 21Shares Etf

  0.72KEYS 21Shares Bitwise SelectPairCorr
  0.7ABBA 21Shares Bitcoin SuissePairCorr

Moving against 21Shares Etf

  0.63BATT LG Battery ValuePairCorr
  0.62CSNKY iShares VII PLCPairCorr
  0.61LYJPN Lyxor Japan UCITSPairCorr
  0.57MSE Amundi EURO STOXXPairCorr
  0.53ELCR Amundi MSCI FuturePairCorr
  0.52JPNJPA UBSFund Solutions MSCIPairCorr
  0.48EIMI iShares Core MSCIPairCorr
  0.46GDIG VanEck Global MiningPairCorr
  0.43VUSA Vanguard SP 500PairCorr
  0.42CSSPX iShares Core SPPairCorr
  0.41IUSA iShares SP 500PairCorr
  0.74CSBGE3 iShares VII PLCPairCorr
  0.74STUX SPDR MSCI EuropePairCorr
  0.66CSKR iShares VII PLCPairCorr
  0.61XEOU Xtrackers MSCI EuropePairCorr
  0.58EXCH iShares MSCI EMPairCorr
  0.55EMUUSD UBSFund Solutions MSCIPairCorr
  0.52VHYL Vanguard FTSE AllPairCorr
  0.49XSMC Xtrackers SwitzerlandPairCorr
  0.48ISWD iShares MSCI WorldPairCorr
  0.47VWRL Vanguard FTSE AllPairCorr
  0.44CSINDU iShares VII PLCPairCorr
  0.43IFFF iShares MSCI ACPairCorr
  0.4DTLC iShares Treasury BondPairCorr
  0.32MAGB Market Access NYSEPairCorr
  0.63CTEK Global X CleanTechPairCorr
  0.59WPAB iShares MSCI WorldPairCorr
  0.58CSUK iShares VII PLCPairCorr
  0.53CMES iShares JP MorganPairCorr
  0.51ISJP iShares MSCI JapanPairCorr
  0.51EUFM UBSFund Solutions MSCIPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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.

Did you try this?

Run Alpha Finder Now

   

Alpha Finder

Use alpha and beta coefficients to find investment opportunities after accounting for the risk
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY