Correlation Between Grayscale Bitcoin and MFS Active
Can any of the company-specific risk be diversified away by investing in both Grayscale Bitcoin and MFS Active at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Grayscale Bitcoin and MFS Active into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Grayscale Bitcoin Trust and MFS Active Value, you can compare the effects of market volatilities on Grayscale Bitcoin and MFS Active and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Grayscale Bitcoin with a short position of MFS Active. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grayscale Bitcoin and MFS Active.
Diversification Opportunities for Grayscale Bitcoin and MFS Active
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Grayscale and MFS is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Bitcoin Trust and MFS Active Value in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MFS Active Value and Grayscale Bitcoin is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Grayscale Bitcoin Trust are associated (or correlated) with MFS Active. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MFS Active Value has no effect on the direction of Grayscale Bitcoin i.e., Grayscale Bitcoin and MFS Active go up and down completely randomly.
Pair Corralation between Grayscale Bitcoin and MFS Active
Given the investment horizon of 90 days Grayscale Bitcoin is expected to generate 1.14 times less return on investment than MFS Active. In addition to that, Grayscale Bitcoin is 3.73 times more volatile than MFS Active Value. It trades about 0.03 of its total potential returns per unit of risk. MFS Active Value is currently generating about 0.14 per unit of volatility. If you would invest 2,468 in MFS Active Value on June 2, 2025 and sell it today you would earn a total of 129.00 from holding MFS Active Value or generate 5.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grayscale Bitcoin Trust vs. MFS Active Value
Performance |
| Timeline |
| Grayscale Bitcoin Trust |
| MFS Active Value |
Grayscale Bitcoin and MFS Active Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grayscale Bitcoin and MFS Active
The main advantage of trading using opposite Grayscale Bitcoin and MFS Active positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grayscale Bitcoin position performs unexpectedly, MFS Active can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in MFS Active will offset losses from the drop in MFS Active's long position.| Grayscale Bitcoin vs. Grayscale Ethereum Trust | Grayscale Bitcoin vs. Riot Blockchain | Grayscale Bitcoin vs. Marathon Digital Holdings | Grayscale Bitcoin vs. Coinbase Global |
| MFS Active vs. FT Vest Equity | MFS Active vs. Northern Lights | MFS Active vs. Dimensional International High | MFS Active vs. JPMorgan Fundamental Data |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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