21Shares Ripple Correlations

Etfs . Switzerland . 
Etf . 21Shares Ripple XRP
AXRP Etf  CHF 29.04  0.55  1.93%   
The current 90-days correlation between 21Shares Ripple XRP and 21Shares Bitcoin Suisse is 0.05 (i.e., Significant diversification). The correlation of 21Shares Ripple 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 Ripple Correlation With Market

Excellent diversification

The correlation between 21Shares Ripple XRP and DJI is -0.56 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21Shares Ripple XRP and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to 21Shares Ripple 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 Ripple 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 Ripple - 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 Ripple XRP to buy it.

Moving together with 21Shares Etf

  0.9BTCW WisdomTree PhysicalPairCorr
  0.91ETHE CoinShares PhysicalPairCorr
  0.9ETHW WisdomTree Ethereum ETCPairCorr
  0.64ABCH 21Shares Bitcoin CashPairCorr
  0.9AXLM 21Shares Stellar ETPPairCorr

Moving against 21Shares Etf

  0.84AUHEUA UBS ETF plcPairCorr
  0.83IWDP iShares Developed MarketsPairCorr
  0.82IUSP iShares Property YieldPairCorr
  0.8FLXK Franklin FTSE KoreaPairCorr
  0.79JPNY Amundi Index SolutionsPairCorr
  0.79PSRW Invesco FTSE RAFIPairCorr
  0.79EMHD Invesco FTSE EmergingPairCorr
  0.77XSGI Xtrackers SP GlobalPairCorr
  0.76IJPE iShares MSCI JapanPairCorr
  0.75RGLDS Raiffeisen ETF SolidPairCorr
  0.75GCVC SPDR Refinitiv GlobalPairCorr
  0.74ZGLDHE ZKB Gold ETFPairCorr
  0.74SPICHA UBS ETF SPIPairCorr
  0.73XSMI Xtrackers SwitzerlandPairCorr
  0.72GLUG LG Clean WaterPairCorr
  0.67CHCORP iShares Core CHFPairCorr
  0.63GGMUSY UBS ETF plcPairCorr
  0.63ESGW Invesco MSCI WorldPairCorr
  0.6CBMDAX Amundi Index SolutionsPairCorr
  0.56ACWIE UBS MSCI ACWIPairCorr
  0.56IMEA iShares Core MSCIPairCorr
  0.31AWSRIS UBS ETF plcPairCorr
  0.88WCOS SPDR MSCI WorldPairCorr
  0.84CSPXJ iShares VII PLCPairCorr
  0.83IUES iShares SP 500PairCorr
  0.81IKOR iShares MSCI KoreaPairCorr
  0.8SHEME UBSFund SolutionsPairCorr
  0.79JPHG Amundi Index SolutionsPairCorr
  0.79TPXY Amundi Index SolutionsPairCorr
  0.78STSX SPDR MSCI EuropePairCorr
  0.77USFMA UBS ETF plcPairCorr
  0.76ZGLDUS ZKB Gold ETFPairCorr
  0.7EUFM 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

CRM
+ 0.92
MSFT
XOM
+ 0.92
MRK
A
+ 0.85
UBER
UBER
+ 0.84
MSFT
A
+ 0.83
MSFT
MRK
+ 0.79
T
  

High negative correlations

XOM
- 0.95
MSFT
MRK
- 0.92
MSFT
XOM
- 0.9
CRM
CRM
- 0.87
T
T
- 0.87
MSFT
XOM
- 0.85
A

21Shares Ripple Competition Risk-Adjusted Indicators

There is a big difference between 21Shares Etf performing well and 21Shares Ripple 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 Ripple'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  1.45  0.03  0.01  0.08  1.59 
(1.56)
 2.38 
(2.81)
 13.69 
MSFT  1.35 (0.25) 0.00 (0.52) 0.00 
 0.00 
 2.19 
(2.87)
 13.28 
UBER  1.58 (0.15) 0.00 (0.26) 0.00 
 0.00 
 2.70 
(3.82)
 11.09 
F  1.31 (0.07) 0.00 (0.03) 0.00 
 0.00 
 3.61 
(2.59)
 9.82 
T  1.06  0.19  0.12 (0.62) 0.93 
(1.27)
 3.87 
(1.76)
 7.44 
A  1.22 (0.45) 0.00 (0.45) 0.00 
 0.00 
 2.48 
(2.73)
 7.20 
CRM  1.82 (0.20) 0.00  0.47  0.00 
 0.00 
 3.66 
(4.75)
 12.37 
JPM  1.27 (0.06)(0.02) 0.00  1.84 
(1.28)
 2.34 
(3.11)
 8.17 
MRK  1.21  0.19  0.11  0.54  1.27 
(1.29)
 2.54 
(2.06)
 7.10 
XOM  1.32  0.44  0.27  2.84  1.08 
(1.56)
 2.90 
(2.44)
 6.83 

Be your own money manager

Our tools can tell you how much better you can do entering a position in 21Shares Ripple 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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