Grayscale Bitcoin Correlations

BTC Etf

USD 38.74 0.13 0.34%

The current 90-days correlation between Grayscale Bitcoin Mini and Fidelity Sai Inflationfocused is -0.1 (i.e., Good 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

Very weak diversification

The correlation between Grayscale Bitcoin Mini and DJI is 0.4 (i.e., Very weak 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 persons.

Moving together with Grayscale Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.99	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.71	BCDF	Listed Funds Trust	Pair Corr
0.64	FOWF	Pacer Solactive Whitney	Pair Corr

Moving against Grayscale Etf

0.84	FROG	Jfrog	Pair Corr
0.82	FSST	Fidelity Sustainability	Pair Corr
0.62	AMPD	Tidal ETF Services	Pair Corr
0.61	FTBI	First Trust Exchange	Pair Corr
0.56	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.55	CPST	Calamos ETF Trust	Pair Corr
0.53	GBUG	Sprott Active Gold	Pair Corr
0.52	SIXS	6 Meridian Small	Pair Corr
0.47	MYCL	SPDR SSGA My2032	Pair Corr
0.45	HEZU	iShares Currency Hedged	Pair Corr
0.45	FJUL	FT Cboe Vest	Pair Corr
0.44	SIL	Global X Silver	Pair Corr
0.43	ESGB	IndexIQ Active ETF	Pair Corr
0.4	SFTY	Horizon Funds Horizon	Pair Corr
0.35	LEGR	First Trust Indxx	Pair Corr
0.33	ITDD	iShares Trust	Pair Corr
0.89	CANC	Tema Oncology ETF	Pair Corr
0.89	CLOX	Series Portfolios Trust	Pair Corr
0.78	HYD	VanEck High Yield	Pair Corr
0.78	ZJAN	Innovator Equity Defined	Pair Corr
0.69	SCMB	Schwab Municipal Bond	Pair Corr
0.66	APRT	AllianzIM Large Cap	Pair Corr
0.65	IAU	iShares Gold Trust	Pair Corr
0.61	FVAL	Fidelity Value Factor	Pair Corr
0.59	CPER	United States Copper Buyout Trend	Pair Corr
0.59	AJUL	Innovator Equity Defined	Pair Corr

Related Correlations Analysis

	FIFGX	QQQI	FASIX	BOND	FFVFX	VCRB	FDCAX	EQPGX	JBND	JGLO
FIFGX		0.33	0.32	0.16	0.24	-0.05	0.29	0.22	0.02	0.03	FIFGX
QQQI	0.33		0.88	0.59	0.91	0.43	0.38	0.86	0.41	0.77	QQQI
FASIX	0.32	0.88		0.81	0.98	0.72	0.13	0.61	0.73	0.63	FASIX
BOND	0.16	0.59	0.81		0.75	0.86	0.1	0.35	0.87	0.34	BOND
FFVFX	0.24	0.91	0.98	0.75		0.67	0.15	0.68	0.66	0.75	FFVFX
VCRB	-0.05	0.43	0.72	0.86	0.67		0.01	0.2	0.98	0.28	VCRB
FDCAX	0.29	0.38	0.13	0.1	0.15	0.01		0.64	-0.06	0.27	FDCAX
EQPGX	0.22	0.86	0.61	0.35	0.68	0.2	0.64		0.12	0.81	EQPGX
JBND	0.02	0.41	0.73	0.87	0.66	0.98	-0.06	0.12		0.18	JBND
JGLO	0.03	0.77	0.63	0.34	0.75	0.28	0.27	0.81	0.18		JGLO
	FIFGX	QQQI	FASIX	BOND	FFVFX	VCRB	FDCAX	EQPGX	JBND	JGLO

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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

FFVFX	+ 0.98	FASIX
JBND	+ 0.98	VCRB
FFVFX	+ 0.91	QQQI
FASIX	+ 0.88	QQQI
JBND	+ 0.87	BOND
EQPGX	+ 0.86	QQQI

High negative correlations

JBND	- 0.06	FDCAX
VCRB	- 0.05	FIFGX

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
FIFGX	0.77	0.02	(0.04)	0.13	0.92	(0.80)	1.56	(1.55)	3.67
QQQI	0.68	0.00	(0.01)	0.07	1.03	(0.63)	1.35	(1.70)	4.29
FASIX	0.16	0.00	(0.21)	0.09	0.10	(0.19)	0.35	(0.35)	0.98
BOND	0.16	0.01	(0.30)	0.13	0.11	(0.17)	0.29	(0.29)	0.95
FFVFX	0.22	0.00	(0.14)	0.08	0.22	(0.25)	0.48	(0.48)	1.28
VCRB	0.14	0.01	(0.37)	0.19	0.09	(0.15)	0.30	(0.27)	0.86
FDCAX	0.83	(0.13)	0.00	(0.04)	0.00	0.00	1.35	(1.82)	10.86
EQPGX	0.78	(0.05)	(0.04)	0.03	1.22	(0.74)	1.56	(2.11)	4.66
JBND	0.17	0.01	(0.32)	0.32	0.13	(0.20)	0.30	(0.37)	0.89
JGLO	0.50	(0.03)	(0.05)	0.04	0.77	(0.45)	1.08	(1.14)	2.95

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