Bitcoin Strategy Correlations

BTCFX Fund

USD 21.71 0.56 2.51%

The current 90-days correlation between Bitcoin Strategy Profund and BlackRock Utility Infrastructure is -0.01 (i.e., Good diversification). The correlation of Bitcoin Strategy 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.

Bitcoin Strategy Correlation With Market

Very weak diversification

The correlation between Bitcoin Strategy Profund and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitcoin Strategy Profund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bitcoin Strategy Profund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving against Bitcoin Mutual Fund

0.53	PHPIX	Pharmaceuticals Ultrasector Steady Growth	Pair Corr
0.48	SRPIX	Short Real Estate	Pair Corr
0.48	UIPSX	Ultrashort Mid Cap Steady Growth	Pair Corr
0.47	UJPIX	Ultrajapan Profund	Pair Corr
0.47	UJPSX	Ultrajapan Profund	Pair Corr
0.4	UIPIX	Ultrashort Mid Cap Steady Growth	Pair Corr
0.32	LGPIX	Large Cap Growth	Pair Corr
0.31	LGPSX	Profunds Large Cap	Pair Corr
0.56	OEPIX	Oil Equipment Services	Pair Corr
0.55	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.55	OEPSX	Oil Equipment Services	Pair Corr
0.31	ULPIX	Ultrabull Profund	Pair Corr

Related Correlations Analysis

	BUI	PBYMX	MFCIX	GOLDX	WMLIX	GLVYX	MVALX	GLDIX	FSLEX	JRSCX
BUI		-0.37	-0.22	-0.23	-0.35	-0.29	-0.22	-0.23	-0.33	-0.47	BUI
PBYMX	-0.37		0.8	0.85	0.9	0.85	0.8	0.85	0.88	0.85	PBYMX
MFCIX	-0.22	0.8		0.7	0.91	0.89	1.0	0.7	0.95	0.84	MFCIX
GOLDX	-0.23	0.85	0.7		0.74	0.63	0.7	1.0	0.76	0.7	GOLDX
WMLIX	-0.35	0.9	0.91	0.74		0.96	0.91	0.75	0.97	0.97	WMLIX
GLVYX	-0.29	0.85	0.89	0.63	0.96		0.89	0.63	0.91	0.93	GLVYX
MVALX	-0.22	0.8	1.0	0.7	0.91	0.89		0.7	0.95	0.84	MVALX
GLDIX	-0.23	0.85	0.7	1.0	0.75	0.63	0.7		0.76	0.7	GLDIX
FSLEX	-0.33	0.88	0.95	0.76	0.97	0.91	0.95	0.76		0.92	FSLEX
JRSCX	-0.47	0.85	0.84	0.7	0.97	0.93	0.84	0.7	0.92		JRSCX
	BUI	PBYMX	MFCIX	GOLDX	WMLIX	GLVYX	MVALX	GLDIX	FSLEX	JRSCX

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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

MVALX	+ 1.0	MFCIX
GLDIX	+ 1.0	GOLDX
FSLEX	+ 0.97	WMLIX
JRSCX	+ 0.97	WMLIX
GLVYX	+ 0.96	WMLIX
FSLEX	+ 0.95	MFCIX

High negative correlations

JRSCX	- 0.47	BUI
PBYMX	- 0.37	BUI
WMLIX	- 0.35	BUI
FSLEX	- 0.33	BUI
GLVYX	- 0.29	BUI
GLDIX	- 0.23	BUI

Risk-Adjusted Indicators

There is a big difference between Bitcoin Mutual Fund performing well and Bitcoin Strategy Mutual Fund 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 Bitcoin Strategy'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
BUI	0.61	0.00	0.00	0.05	0.00	0.00	1.36	(1.12)	5.71
PBYMX	0.22	0.08	0.18	3.20	0.00	(0.40)	0.68	(0.32)	1.75
MFCIX	0.89	(0.05)	(0.03)	0.01	1.15	(0.92)	1.88	(1.92)	5.73
GOLDX	1.71	0.42	0.13	0.84	2.35	(1.69)	3.62	(3.83)	12.15
WMLIX	0.53	0.00	(0.01)	0.05	0.76	(0.49)	1.20	(1.12)	4.32
GLVYX	0.71	(0.03)	(0.02)	0.02	0.95	(0.73)	1.40	(1.23)	5.31
MVALX	0.89	(0.05)	(0.03)	0.01	1.15	(0.92)	1.88	(1.91)	5.74
GLDIX	1.71	0.42	0.13	0.84	2.35	(1.73)	3.61	(3.81)	12.19
FSLEX	0.75	0.00	0.00	0.05	0.95	(0.74)	1.45	(1.50)	5.06
JRSCX	0.49	(0.01)	(0.02)	0.04	0.64	(0.53)	1.23	(0.89)	3.60

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