21Shares Crypto Correlations
| HODL Etf | 12.09 0.75 5.84% |
The correlation of 21Shares Crypto 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 21Shares Crypto moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 21Shares Crypto Basket moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between 21Shares Crypto Basket and NYA is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21Shares Crypto Basket and NYA in the same portfolio, assuming nothing else is changed.
21Shares |
The ability to find closely correlated positions to 21Shares Crypto could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 21Shares Crypto when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back 21Shares Crypto - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling 21Shares Crypto Basket to buy it.
Moving together with 21Shares Etf
| 0.88 | JPNJPA | UBSFund Solutions MSCI | PairCorr |
| 0.84 | VUSA | Vanguard SP 500 | PairCorr |
| 0.78 | CSNKY | iShares VII PLC | PairCorr |
| 0.84 | CSSPX | iShares Core SP | PairCorr |
| 0.83 | LYJPN | Lyxor Japan UCITS | PairCorr |
| 0.8 | EIMI | iShares Core MSCI | PairCorr |
| 0.84 | IUSA | iShares SP 500 | PairCorr |
| 0.91 | MSE | Lyxor UCITS Stoxx | PairCorr |
| 0.84 | IEAC | iShares Core Corp | PairCorr |
| 0.81 | IEMB | iShares JP Morgan | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
21Shares Crypto Competition Risk-Adjusted Indicators
There is a big difference between 21Shares Etf performing well and 21Shares Crypto 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 21Shares Crypto'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 | 1.91 | 0.13 | 0.06 | 0.15 | 2.35 | 3.27 | 30.88 | |||
| MSFT | 1.03 | (0.09) | 0.00 | (0.03) | 0.00 | 2.11 | 5.87 | |||
| UBER | 1.64 | (0.02) | 0.01 | 0.03 | 1.73 | 2.64 | 18.39 | |||
| F | 1.60 | 0.04 | 0.05 | 0.06 | 1.92 | 4.88 | 10.80 | |||
| T | 0.88 | (0.06) | 0.00 | (0.15) | 0.00 | 1.88 | 4.89 | |||
| A | 1.24 | (0.03) | 0.00 | 0.03 | 1.42 | 2.29 | 6.31 | |||
| CRM | 1.23 | (0.14) | 0.00 | (0.05) | 0.00 | 2.64 | 10.84 | |||
| JPM | 0.77 | 0.08 | 0.06 | 0.11 | 1.28 | 1.94 | 8.65 | |||
| MRK | 0.69 | 0.05 | 0.05 | 0.12 | 0.63 | 1.35 | 6.92 | |||
| XOM | 0.82 | 0.14 | 0.11 | 0.36 | 0.89 | 1.77 | 5.64 |
21Shares Crypto Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with 21Shares Crypto etf to make a market-neutral strategy. Peer analysis of 21Shares Crypto could also be used in its relative valuation, which is a method of valuing 21Shares Crypto by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Already Invested in 21Shares Crypto Basket?
The danger of trading 21Shares Crypto Basket is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of 21Shares Crypto is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than 21Shares Crypto. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile 21Shares Crypto Basket is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.