Cardano Related Correlations

ADA Crypto

USD 0.50 0.01 1.96%

Generate correlation matrix for Cardano and other related equities to check the degree to which Cardano price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Cardano. To filter out specific equities, please toggle its corresponding legend item. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cardano. Also, note that the market value of any cryptocurrency could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

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Please note, there is a significant difference between Cardano's coin value and its market price as these two are different measures arrived at by different means. Cryptocurrency investors typically determine Cardano value by looking at such factors as its true mass adoption, usability, application, safety as well as its ability to resist fraud and manipulation. On the other hand, Cardano's price is the amount at which it trades on the cryptocurrency exchange or other digital marketplace that truly represents its supply and demand.

Correlations

	ETH	AVAX	NEAR	ICP	HBAR	CRO	ATOM	FET	ALGO	AKT
ETH		0.75	0.84	0.57	0.85	0.92	0.78	0.88	0.9	0.93	ETH
AVAX	0.75		0.81	0.54	0.64	0.73	0.74	0.76	0.88	0.8	AVAX
NEAR	0.84	0.81		0.65	0.65	0.9	0.55	0.96	0.81	0.79	NEAR
ICP	0.57	0.54	0.65		0.47	0.68	0.46	0.69	0.56	0.45	ICP
HBAR	0.85	0.64	0.65	0.47		0.72	0.76	0.7	0.81	0.88	HBAR
CRO	0.92	0.73	0.9	0.68	0.72		0.68	0.95	0.84	0.83	CRO
ATOM	0.78	0.74	0.55	0.46	0.76	0.68		0.59	0.91	0.81	ATOM
FET	0.88	0.76	0.96	0.69	0.7	0.95	0.59		0.81	0.83	FET
ALGO	0.9	0.88	0.81	0.56	0.81	0.84	0.91	0.81		0.91	ALGO
AKT	0.93	0.8	0.79	0.45	0.88	0.83	0.81	0.83	0.91		AKT
	ETH	AVAX	NEAR	ICP	HBAR	CRO	ATOM	FET	ALGO	AKT

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Risk-Adjusted Indicators

There is a big difference between Cardano Crypto Coin performing well and Cardano Cryptocurrency 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 Cardano'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
ETH	2.69	0.55	0.14	0.95	3.15	(2.96)	7.72	(6.50)	18.88
AVAX	4.30	0.45	0.08	0.69	5.11	(4.79)	8.19	(11.02)	43.53
NEAR	5.71	1.65	0.26	1.11	5.28	(6.61)	14.88	(10.03)	54.07
ICP	4.73	0.69	0.13	2.26	4.43	(5.69)	10.02	(7.86)	52.32
HBAR	6.60	1.46	0.24	0.41	4.68	(10.24)	18.18	(9.09)	43.65
CRO	3.65	0.78	0.17	0.57	3.22	(5.88)	10.00	(7.14)	25.87
ATOM	3.16	(0.09)	(0.01)	0.01	4.71	(3.29)	7.58	(8.72)	32.14
FET	7.17	2.55	0.38	1.86	5.89	(9.31)	18.01	(9.70)	56.48
ALGO	4.10	0.31	0.04	0.30	4.88	(7.57)	9.52	(10.53)	35.91
AKT	5.38	1.20	0.25	1.51	4.04	(7.32)	15.27	(7.29)	34.46

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Cardano Related Correlations

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