Grayscale Bitcoin Correlations

BTC Etf

USD 30.19 1.33 4.22%

The current 90-days correlation between Grayscale Bitcoin Mini and JPMorgan Global Select is 0.48 (i.e., Very weak 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 good diversification

The correlation between Grayscale Bitcoin Mini and DJI is -0.45 (i.e., Very 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 population.

Moving together with Grayscale Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.84	SPBC	Simplify Equity PLUS	Pair Corr
1.0	BTF	CoinShares Bitcoin and	Pair Corr
0.91	VUG	Vanguard Growth Index	Pair Corr

Moving against Grayscale Etf

0.84	INR	Infinity Natural Res Earnings Call This Week	Pair Corr
0.83	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.83	VTV	Vanguard Value Index	Pair Corr
0.78	VEA	Vanguard FTSE Developed	Pair Corr
0.72	PBD	Invesco Global Clean	Pair Corr
0.61	VO	Vanguard Mid Cap	Pair Corr
0.59	VB	Vanguard Small Cap	Pair Corr
0.91	SCHY	Schwab International	Pair Corr
0.88	DIVO	Amplify CWP Enhanced	Pair Corr
0.83	NCPB	Nuveen Core Plus	Pair Corr
0.82	DBND	DoubleLine Opportunistic	Pair Corr
0.82	SPIP	SPDR Portfolio TIPS	Pair Corr
0.81	GOVT	iShares Treasury Bond Sell-off Trend	Pair Corr
0.81	DRN	Direxion Daily Real	Pair Corr
0.8	SPHQ	Invesco SP 500	Pair Corr
0.8	JFLX	JP Morgan Exchange	Pair Corr
0.78	NANR	SPDR SP North	Pair Corr
0.77	IDEV	iShares Core MSCI	Pair Corr
0.76	PQDI	Principal Exchange	Pair Corr
0.74	NBTR	Neuberger Berman ETF	Pair Corr
0.71	MDY	SPDR SP MIDCAP	Pair Corr
0.69	IJR	iShares Core SP	Pair Corr
0.69	PHB	Invesco Fundamental High Symbol Change	Pair Corr
0.64	CARD	Bank of Montreal	Pair Corr
0.88	SUPL	ProShares Supply Chain	Pair Corr
0.86	MYCL	SPDR SSGA My2032	Pair Corr
0.86	VYM	Vanguard High Dividend	Pair Corr
0.85	MNA	IQ Merger Arbitrage	Pair Corr
0.85	WTV	WisdomTree Trust	Pair Corr
0.82	UITB	VictoryShares USAA Core	Pair Corr

Related Correlations Analysis

	FIFGX	QQQI	FASIX	BOND	FFVFX	VCRB	FDCAX	EQPGX	JBND	JGLO
FIFGX		-0.09	0.84	0.82	0.83	0.8	0.65	-0.06	0.77	0.6	FIFGX
QQQI	-0.09		-0.06	-0.25	-0.06	-0.31	0.42	0.9	-0.35	0.27	QQQI
FASIX	0.84	-0.06		0.95	1.0	0.91	0.82	0.09	0.87	0.88	FASIX
BOND	0.82	-0.25	0.95		0.94	0.99	0.63	-0.1	0.97	0.72	BOND
FFVFX	0.83	-0.06	1.0	0.94		0.9	0.82	0.08	0.86	0.88	FFVFX
VCRB	0.8	-0.31	0.91	0.99	0.9		0.53	-0.14	0.99	0.64	VCRB
FDCAX	0.65	0.42	0.82	0.63	0.82	0.53		0.48	0.44	0.94	FDCAX
EQPGX	-0.06	0.9	0.09	-0.1	0.08	-0.14	0.48		-0.18	0.4	EQPGX
JBND	0.77	-0.35	0.87	0.97	0.86	0.99	0.44	-0.18		0.57	JBND
JGLO	0.6	0.27	0.88	0.72	0.88	0.64	0.94	0.4	0.57		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	+ 1.0	FASIX
VCRB	+ 0.99	BOND
JBND	+ 0.99	VCRB
JBND	+ 0.97	BOND
BOND	+ 0.95	FASIX
FFVFX	+ 0.94	BOND

High negative correlations

JBND	- 0.35	QQQI
VCRB	- 0.31	QQQI
BOND	- 0.25	QQQI
JBND	- 0.18	EQPGX
EQPGX	- 0.14	VCRB
EQPGX	- 0.1	BOND

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	0.98	0.29	0.22	(7.23)	1.05	(1.11)	1.97	(1.68)	6.34
QQQI	0.61	(0.01)	(0.01)	(0.01)	0.88	(0.58)	1.21	(1.53)	3.82
FASIX	0.16	0.02	0.06	0.08	0.13	(0.20)	0.35	(0.34)	1.23
BOND	0.15	0.01	0.03	0.22	0.11	(0.17)	0.34	(0.28)	0.86
FFVFX	0.24	0.03	0.06	0.09	0.27	(0.26)	0.50	(0.58)	1.85
VCRB	0.14	0.00	0.01	0.06	0.12	(0.16)	0.28	(0.28)	0.83
FDCAX	0.66	0.02	0.03	0.03	0.88	(0.64)	1.10	(1.58)	3.94
EQPGX	0.71	(0.04)	0.00	(0.05)	0.00	0.00	1.32	(1.83)	4.34
JBND	0.15	0.00	0.02	0.21	0.12	(0.18)	0.34	(0.26)	0.90
JGLO	0.50	0.01	0.01	0.01	0.70	(0.46)	0.77	(0.92)	3.33

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