Bitcoin Related Correlations

BTC Crypto

USD 63,636 308.41 0.48%

Generate correlation matrix for Bitcoin and other related equities to check the degree to which Bitcoin 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 Bitcoin. 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 Bitcoin. 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.

Specify up to 10 symbols:

Please note, there is a significant difference between Bitcoin's coin value and its market price as these two are different measures arrived at by different means. Cryptocurrency investors typically determine Bitcoin 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, Bitcoin'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

	DOGE	BCH	LTC	ETC	XMR	AR	BSV	CFX	CKB	BTG
DOGE		0.94	0.95	0.81	-0.2	0.93	0.67	0.82	0.89	0.95	DOGE
BCH	0.94		0.93	0.7	-0.29	0.8	0.59	0.71	0.84	0.86	BCH
LTC	0.95	0.93		0.84	-0.16	0.88	0.76	0.81	0.8	0.92	LTC
ETC	0.81	0.7	0.84		-0.02	0.88	0.94	0.72	0.76	0.88	ETC
XMR	-0.2	-0.29	-0.16	-0.02		-0.12	0.06	-0.11	-0.35	-0.13	XMR
AR	0.93	0.8	0.88	0.88	-0.12		0.73	0.87	0.85	0.95	AR
BSV	0.67	0.59	0.76	0.94	0.06	0.73		0.59	0.59	0.77	BSV
CFX	0.82	0.71	0.81	0.72	-0.11	0.87	0.59		0.67	0.86	CFX
CKB	0.89	0.84	0.8	0.76	-0.35	0.85	0.59	0.67		0.85	CKB
BTG	0.95	0.86	0.92	0.88	-0.13	0.95	0.77	0.86	0.85		BTG
	DOGE	BCH	LTC	ETC	XMR	AR	BSV	CFX	CKB	BTG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

LTC	+ 0.95	DOGE
BTG	+ 0.95	DOGE
BTG	+ 0.95	AR
BCH	+ 0.94	DOGE
BSV	+ 0.94	ETC
AR	+ 0.93	DOGE

High negative correlations

CKB	- 0.35	XMR
XMR	- 0.29	BCH
XMR	- 0.2	DOGE
XMR	- 0.16	LTC
BTG	- 0.13	XMR
AR	- 0.12	XMR

Risk-Adjusted Indicators

There is a big difference between Bitcoin Crypto Coin performing well and Bitcoin 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 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
DOGE	5.12	1.12	0.18	0.63	4.90	(6.96)	15.38	(11.11)	35.45
BCH	4.85	1.23	0.22	0.43	4.96	(5.50)	12.11	(7.57)	78.47
LTC	3.36	0.31	0.06	0.31	4.84	(3.20)	7.94	(8.20)	28.62
ETC	3.47	0.16	0.03	0.21	4.90	(3.60)	7.94	(8.84)	26.67
XMR	3.39	(0.17)	0.00	0.62	0.00	0.00	5.41	(5.51)	39.86
AR	6.98	1.99	0.28	(4.82)	5.75	(8.65)	16.01	(10.23)	71.06
BSV	4.58	(0.13)	0.00	0.02	6.54	(4.64)	7.81	(12.06)	48.53
CFX	6.06	0.39	0.04	0.30	7.80	(7.90)	13.64	(14.29)	46.05
CKB	9.33	3.56	0.51	2.96	5.83	(12.77)	31.73	(11.15)	101.94
BTG	4.22	0.59	0.14	0.29	4.33	(5.07)	10.51	(8.50)	31.79

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC

Bitcoin Related Correlations

Specify up to 10 symbols:

Correlations

Correlation Matchups

Risk-Adjusted Indicators

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY