Grayscale Bitcoin Correlations

BTC Etf

USD 46.01 0.40 0.86%

The current 90-days correlation between Grayscale Bitcoin Mini and Grayscale Funds Trust is 0.74 (i.e., Poor diversification). The correlation of Grayscale 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.

Grayscale Bitcoin Correlation With Market

Good diversification

The correlation between Grayscale Bitcoin Mini and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Bitcoin Mini and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Grayscale Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Grayscale Bitcoin Mini. 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 Grayscale Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin	Pair Corr
0.94	BLOK	Amplify Transformational	Pair Corr
0.89	BLCN	Siren Nasdaq NexGen	Pair Corr
0.9	LEGR	First Trust Indxx	Pair Corr
0.95	BITQ	Bitwise Crypto Industry	Pair Corr
0.91	SPBC	Simplify Equity PLUS	Pair Corr
0.93	DAPP	VanEck Digital Trans	Pair Corr
0.95	CRPT	First Trust SkyBridge	Pair Corr
0.8	ITDD	iShares Trust	Pair Corr
0.78	ITWO	Proshares Russell 2000	Pair Corr
0.61	OBND	SSGA Active Trust	Pair Corr
0.69	GSIG	Goldman Sachs Access	Pair Corr
0.76	ODCEX	ODCEX	Pair Corr
0.87	BRRR	Valkyrie Bitcoin	Pair Corr
0.86	FMAY	First Trust Exchange	Pair Corr
0.78	QVOY	Ultimus Managers Trust	Pair Corr
0.89	IHY	VanEck International High	Pair Corr
0.92	FORH	Formidable ETF	Pair Corr
0.88	NFXL	Direxion Daily NFLX	Pair Corr
0.92	XAR	SPDR SP Aerospace	Pair Corr
0.93	JIRE	JP Morgan Exchange	Pair Corr
1.0	ARKB	ARK 21Shares Bitcoin	Pair Corr
0.85	BUFR	First Trust Cboe	Pair Corr
0.84	SOXX	iShares Semiconductor ETF	Pair Corr
0.84	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.85	FID	First Trust Intl	Pair Corr
0.89	CGIE	Capital Group Intern	Pair Corr
0.9	PWRD	Perfect World Symbol Change	Pair Corr
0.87	CBTJ	Calamos Bitcoin 80	Pair Corr
0.71	BPI	Grayscale Funds Trust	Pair Corr
0.75	PICB	Invesco International	Pair Corr
0.83	NIKL	Sprott Nickel Miners Downward Rally	Pair Corr
0.93	DWMF	WisdomTree International	Pair Corr
0.87	DFEV	Dimensional ETF Trust	Pair Corr
0.82	XHYT	BondBloxx ETF Trust	Pair Corr

Related Correlations Analysis

	MNRS	EETH	NCIQ	ETHA	ETHD	ETHE	ETHT	ETHU	ETHV
MNRS		0.94	0.94	0.94	-0.96	0.91	0.92	0.92	0.94	MNRS
EETH	0.94		0.94	1.0	-0.98	0.96	1.0	1.0	1.0	EETH
NCIQ	0.94	0.94		0.94	-0.98	0.88	0.91	0.91	0.94	NCIQ
ETHA	0.94	1.0	0.94		-0.98	0.96	0.99	0.99	1.0	ETHA
ETHD	-0.96	-0.98	-0.98	-0.98		-0.93	-0.95	-0.95	-0.98	ETHD
ETHE	0.91	0.96	0.88	0.96	-0.93		0.96	0.96	0.96	ETHE
ETHT	0.92	1.0	0.91	0.99	-0.95	0.96		1.0	0.99	ETHT
ETHU	0.92	1.0	0.91	0.99	-0.95	0.96	1.0		0.99	ETHU
ETHV	0.94	1.0	0.94	1.0	-0.98	0.96	0.99	0.99		ETHV
	MNRS	EETH	NCIQ	ETHA	ETHD	ETHE	ETHT	ETHU	ETHV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ETHA	+ 1.0	EETH
ETHT	+ 1.0	EETH
ETHU	+ 1.0	EETH
ETHV	+ 1.0	EETH
ETHV	+ 1.0	ETHA
ETHU	+ 1.0	ETHT

High negative correlations

ETHV	- 0.98	ETHD
ETHD	- 0.98	ETHA
ETHD	- 0.98	NCIQ
ETHD	- 0.98	EETH
ETHD	- 0.96	MNRS
ETHU	- 0.95	ETHD

Grayscale Bitcoin Constituents Risk-Adjusted Indicators

There is a big difference between Grayscale Etf performing well and Grayscale 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 Grayscale 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
MNRS	3.49	0.27	0.06	(0.57)	3.94	(3.69)	6.38	(6.54)	21.80
EETH	3.74	0.31	0.07	2.87	4.02	(4.68)	9.51	(6.66)	24.20
NCIQ	2.09	0.26	0.09	(2.61)	2.47	(2.32)	4.99	(3.89)	11.56
ETHA	3.76	0.34	0.07	2.76	4.01	(4.90)	9.55	(6.63)	24.31
ETHD	7.43	(0.66)	0.00	3.12	0.00	0.00	13.13	(18.69)	64.57
ETHE	3.73	0.35	0.08	0.27	3.98	(4.68)	9.43	(6.58)	24.27
ETHT	7.53	0.63	0.07	3.23	8.10	(9.41)	19.06	(13.59)	48.80
ETHU	7.47	0.62	0.07	3.13	8.17	(9.34)	18.69	(13.67)	48.30
ETHV	3.73	0.34	0.08	2.42	3.95	(4.88)	9.43	(6.61)	24.37

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