Bitcoin Fund Correlations

QBTC Stock

94.00 1.70 1.84%

Correlations tend to spike during dislocations, so the stock's calm-market pairing may not hold under stress. The current 90-days correlation between Bitcoin Fund Unit and Canadian Large Cap is -0.18 (i.e., Excellent diversification).

Market Correlation Profile: Bitcoin Fund

Moderate diversification

Bitcoin Fund currently posts a 0.21 correlation with Dow Jones, indicating a Moderate diversification relationship for the active sample. This chart helps evaluate whether adding Dow Jones genuinely reduces risk relative to holding Bitcoin Fund alone.

This view shows how Bitcoin Fund aligns with related instruments based on correlation data. The values are derived from historical price relationships across available periods.

Moving together with Bitcoin Stock

0.79	BKNG	Booking CDR	Pair Corr
0.79	BKNG	Booking CDR	Pair Corr

Related Correlations Analysis

	MDS-UN	CTF-UN	YCM	BGI-UN	MID-UN	RBN-UN	ENI-UN	NPS
MDS-UN		0.17	0.37	-0.03	0.07	-0.05	0.23	0.23	MDS-UN
CTF-UN	0.17		0.31	0.06	0.49	0.24	0.69	0.47	CTF-UN
YCM	0.37	0.31		0.03	0.26	0.16	0.27	0.21	YCM
BGI-UN	-0.03	0.06	0.03		0.48	0.2	0.01	-0.32	BGI-UN
MID-UN	0.07	0.49	0.26	0.48		0.58	0.68	0.16	MID-UN
RBN-UN	-0.05	0.24	0.16	0.2	0.58		0.36	0.07	RBN-UN
ENI-UN	0.23	0.69	0.27	0.01	0.68	0.36		0.58	ENI-UN
NPS	0.23	0.47	0.21	-0.32	0.16	0.07	0.58		NPS
	MDS-UN	CTF-UN	YCM	BGI-UN	MID-UN	RBN-UN	ENI-UN	NPS

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

ENI-UN	+ 0.69	CTF-UN
ENI-UN	+ 0.68	MID-UN
RBN-UN	+ 0.58	MID-UN
NPS	+ 0.58	ENI-UN
MID-UN	+ 0.49	CTF-UN
MID-UN	+ 0.48	BGI-UN

High negative correlations

NPS	- 0.32	BGI-UN
RBN-UN	- 0.05	MDS-UN
BGI-UN	- 0.03	MDS-UN

Risk-Adjusted Indicators

Evaluating Bitcoin Stock requires separating price momentum from underlying operating strength versus competitors. Peer-relative risk metrics add context on drawdown behavior, consistency, and return quality. These indicators are quantitative in nature and help investors evaluate volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MDS-UN	1.58	0.04	0.04	0.18	1.90	-2.21	5.19	-3.46	13.66
CTF-UN	1.24	0.13	0.08	0.25	1.43	-1.81	3.39	-2.62	8.95
YCM	1.61	0.19	0.03	-0.38	2.92	-5.07	6.22	-5.37	28.36
BGI-UN	1.28	-0.04	0.00	-0.29	0.00	0.00	3.12	-2.97	12.63
MID-UN	0.40	-0.03	0.00	0.25	0.00	0.00	0.79	-1.01	4.13
RBN-UN	1.47	-0.02	0.00	-0.54	0.00	0.00	5.38	-5.10	16.17
ENI-UN	1.74	0.15	0.05	0.58	2.33	-3.73	6.67	-3.33	18.77
NPS	3.18	0.49	0.09	-0.75	5.41	-3.44	6.98	-5.90	41.76

Be your own money manager

Optimization tools can help investors judge whether capital allocated to Bitcoin Fund Unit is being used efficiently relative to other opportunities in the same equity universe. A stronger allocation process asks what the position adds to the portfolio, not just what it might do on its own.

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