Bitcoin Strategy Correlations

BTCFX Fund

USD 28.21 0.14 0.49%

The current 90-days correlation between Bitcoin Strategy Profund and Virtus Multi Sector Short is 0.2 (i.e., Modest 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

Significant diversification

The correlation between Bitcoin Strategy Profund and DJI is 0.03 (i.e., Significant 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 together with Bitcoin Mutual Fund

0.93	BTIDX	Idx Risk Managed	Pair Corr
0.99	BTCYX	Cboe Vest Bitcoin	Pair Corr
0.88	BTCLX	Cboe Vest Bitcoin	Pair Corr
0.67	TEPSX	Technology Ultrasector	Pair Corr
0.61	VMRXX	Vanguard Money Market	Pair Corr
0.63	HDCAX	Rational Dividend Capture	Pair Corr

Moving against Bitcoin Mutual Fund

0.5

ABHYX

High Yield Municipal

Pair Corr

Related Correlations Analysis

	VMSSX	AOUNX	DULTX	FSHAX	ASTIX	HYSZX
VMSSX		0.97	0.96	0.98	0.89	0.96	VMSSX
AOUNX	0.97		0.99	0.98	0.91	0.94	AOUNX
DULTX	0.96	0.99		0.98	0.9	0.92	DULTX
FSHAX	0.98	0.98	0.98		0.89	0.94	FSHAX
ASTIX	0.89	0.91	0.9	0.89		0.92	ASTIX
HYSZX	0.96	0.94	0.92	0.94	0.92		HYSZX
	VMSSX	AOUNX	DULTX	FSHAX	ASTIX	HYSZX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VMSSX	0.10	0.02	(0.39)	2.97	(0.27)	0.22	(0.22)	0.66
AOUNX	0.05	0.02	0.00	(1.11)	0.00	0.10	(0.10)	0.51
DULTX	0.04	0.01	0.00	(1.50)	0.00	0.10	0.00	0.41
FSHAX	0.05	0.02	0.00	(1.14)	0.00	0.10	0.00	0.41
ASTIX	0.25	0.02	(0.11)	0.16	(0.30)	0.53	(0.46)	1.21
HYSZX	0.11	0.02	(0.53)	0.32	(0.17)	0.24	(0.12)	0.83

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