CTXC Correlations
CTXC Crypto | USD 0.20 0.01 4.76% |
The current 90-days correlation between CTXC and Solana is 0.18 (i.e., Average diversification). The correlation of CTXC 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.
CTXC Correlation With Market
Modest diversification
The correlation between CTXC and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CTXC and DJI in the same portfolio, assuming nothing else is changed. Please note that CTXC is a digital instrument and cryptocurrency exchanges were notoriously volatile since the beginning of their establishment.
CTXC |
The ability to find closely correlated positions to CTXC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CTXC 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 CTXC - 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 CTXC to buy it.
Moving together with CTXC Crypto Coin
0.71 | SOL | Solana | PairCorr |
0.73 | SUI | Sui | PairCorr |
0.84 | APT | Aptos | PairCorr |
0.65 | JUP | Jupiter | PairCorr |
0.8 | WBTC | Wrapped Bitcoin | PairCorr |
0.72 | UNI | Uniswap Protocol Token | PairCorr |
0.89 | WBT | WhiteBIT Token | PairCorr |
0.73 | ENA | Ethena | PairCorr |
0.64 | LEO | LEO Token | PairCorr |
0.62 | TAO | Bittensor | PairCorr |
0.75 | PYTH | Pyth Network | PairCorr |
0.61 | SEI | Sei | PairCorr |
Moving against CTXC Crypto Coin
0.39 | XRP | XRP | PairCorr |
0.39 | TON | Toncoin | PairCorr |
0.65 | KAS | Kaspa | PairCorr |
0.4 | POL | Polygon Ecosystem Token | PairCorr |
0.39 | MATIC | Polygon | PairCorr |
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between CTXC Crypto Coin performing well and CTXC 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 CTXC'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 | 3.15 | 0.16 | 0.04 | 0.29 | 3.61 | 6.21 | 21.39 | |||
XRP | 2.28 | (0.16) | 0.00 | (0.07) | 0.00 | 3.92 | 27.65 | |||
TON | 2.99 | (0.31) | 0.00 | (0.31) | 0.00 | 5.67 | 26.92 | |||
STETH | 2.80 | (0.27) | 0.00 | (0.13) | 0.00 | 5.29 | 25.74 | |||
SUI | 5.60 | 1.98 | 0.33 | 3.75 | 4.70 | 15.64 | 53.76 | |||
TRX | 2.06 | 0.54 | 0.00 | 0.63 | 0.00 | 6.67 | 29.33 | |||
AVAX | 3.87 | 0.08 | 0.03 | 0.10 | 4.45 | 7.54 | 26.50 | |||
LINK | 3.43 | (0.07) | (0.01) | 0.01 | 5.31 | 6.12 | 28.11 | |||
APT | 4.87 | 0.67 | 0.14 | 0.51 | 4.50 | 10.01 | 28.74 | |||
JUP | 4.35 | 0.18 | 0.03 | 0.35 | 4.68 | 8.79 | 27.15 |
Be your own crypto manager
Our tools can tell you how much better you can do entering a position in CTXC 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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