IShares Bitcoin Correlations

IBIT Etf

USD 52.45 1.01 1.89%

The current 90-days correlation between iShares Bitcoin Trust and Vanguard Extended Market is 0.03 (i.e., Significant diversification). The correlation of IShares 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Bitcoin Correlation With Market

Very weak diversification

The correlation between iShares Bitcoin Trust and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Bitcoin Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Bitcoin Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with IShares Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin	Pair Corr
1.0	BTC	Grayscale Bitcoin Mini	Pair Corr
0.99	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.63	BCDF	Listed Funds Trust	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.76	HPQ	HP Inc	Pair Corr

Moving against IShares Etf

0.7	XTJA	Innovator ETFs Trust	Pair Corr
0.65	QTJA	Innovator ETFs Trust	Pair Corr
0.59	QTAP	Innovator Growth 100	Pair Corr
0.58	XTAP	Innovator Equity Acc	Pair Corr
0.51	AXP	American Express	Pair Corr
0.48	KO	Coca Cola	Pair Corr
0.43	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.4	XTOC	Innovator ETFs Trust	Pair Corr
0.83	TRV	The Travelers Companies	Pair Corr
0.72	DD	Dupont De Nemours	Pair Corr
0.63	XOM	Exxon Mobil Corp	Pair Corr
0.55	BAC	Bank of America Earnings Call This Week	Pair Corr
0.52	MCD	McDonalds	Pair Corr
0.52	VZ	Verizon Communications	Pair Corr
0.5	AA	Alcoa Corp	Pair Corr
0.49	CAT	Caterpillar	Pair Corr
0.36	IBM	International Business	Pair Corr
0.33	MMM	3M Company	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.64	0.41	-0.5	0.29	-0.33	0.3	-0.23	-0.39	-0.5	META
MSFT	0.64		0.85	-0.54	0.42	-0.03	-0.03	-0.48	-0.82	-0.65	MSFT
UBER	0.41	0.85		-0.56	0.49	0.19	-0.24	-0.51	-0.85	-0.66	UBER
F	-0.5	-0.54	-0.56		-0.65	0.22	0.34	0.6	0.65	0.74	F
T	0.29	0.42	0.49	-0.65		0.27	-0.66	-0.62	-0.41	-0.54	T
A	-0.33	-0.03	0.19	0.22	0.27		-0.49	-0.25	-0.02	-0.04	A
CRM	0.3	-0.03	-0.24	0.34	-0.66	-0.49		0.54	0.24	0.3	CRM
JPM	-0.23	-0.48	-0.51	0.6	-0.62	-0.25	0.54		0.65	0.66	JPM
MRK	-0.39	-0.82	-0.85	0.65	-0.41	-0.02	0.24	0.65		0.78	MRK
XOM	-0.5	-0.65	-0.66	0.74	-0.54	-0.04	0.3	0.66	0.78		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.85	MSFT
XOM	+ 0.78	MRK
XOM	+ 0.74	F
XOM	+ 0.66	JPM
MRK	+ 0.65	F
MRK	+ 0.65	JPM

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.82	MSFT
CRM	- 0.66	T
XOM	- 0.66	UBER
T	- 0.65	F
XOM	- 0.65	MSFT

IShares Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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 IShares 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
META	1.35	(0.19)	0.00	(0.13)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.13)	0.00	(0.20)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.56	(0.22)	0.00	(0.16)	0.00	0.00	3.34	(3.82)	10.51
F	1.43	0.07	0.05	0.11	1.68	(1.55)	2.53	(2.63)	16.30
T	0.94	(0.19)	0.00	(0.71)	0.00	0.00	1.61	(1.92)	5.75
A	1.12	(0.01)	0.00	0.06	1.31	(1.20)	2.34	(2.22)	6.50
CRM	1.54	0.11	0.05	0.19	1.96	(1.55)	3.66	(2.92)	9.91
JPM	1.11	0.01	0.02	0.07	1.44	(1.15)	2.34	(2.28)	7.02
MRK	1.21	0.26	0.19	0.38	1.10	(1.50)	3.59	(1.98)	8.09
XOM	0.97	0.06	0.01	0.30	1.09	(1.03)	2.10	(1.93)	5.82

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