ADA Correlations
ADA Crypto | USD 0.82 0.08 8.89% |
The current 90-days correlation between ADA and MATIC is 0.84 (i.e., Very poor diversification). The correlation of ADA 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
ADA |
The ability to find closely correlated positions to ADA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ADA 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 ADA - 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 ADA to buy it.
Moving together with ADA Crypto Coin
0.95 | NEAR | NEAR | PairCorr |
0.81 | CRO | CRO | PairCorr |
0.78 | STRAX | STRAX | PairCorr |
0.76 | FET | FET | PairCorr |
0.93 | QTUM | Qtum | PairCorr |
0.9 | ALGO | ALGO | PairCorr |
0.88 | ONT | ONT | PairCorr |
0.9 | WAN | WAN | PairCorr |
0.93 | ATOM | ATOM | PairCorr |
Moving against ADA Crypto Coin
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between ADA Crypto Coin performing well and ADA 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 ADA'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
SOL | 2.98 | 0.48 | 0.07 | (1.52) | 2.93 | 7.76 | 24.32 | |||
MATIC | 3.14 | (0.05) | 0.00 | (0.64) | 0.00 | 8.00 | 22.33 | |||
CRO | 2.68 | 0.59 | 0.09 | (1.04) | 2.55 | 9.09 | 27.27 | |||
BTC | 1.30 | 0.36 | 0.10 | (9.16) | 1.07 | 3.88 | 10.32 | |||
NEAR | 4.47 | 0.40 | 0.00 | (0.28) | 4.67 | 9.92 | 31.41 | |||
XMR | 2.62 | 0.40 | 0.11 | 0.75 | 2.83 | 5.80 | 26.05 | |||
LINK | 3.50 | 0.51 | 0.05 | (0.74) | 3.46 | 8.18 | 22.55 | |||
XRP | 2.74 | 0.66 | 0.13 | (7.29) | 2.72 | 6.57 | 24.90 |
Be your own crypto manager
Our tools can tell you how much better you can do entering a position in ADA without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.Did you try this?
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