VanEck Bitcoin Correlations

HODL Etf

31.47 0.75 2.44%

The current 90-days correlation between VanEck Bitcoin Trust and Grayscale Funds Trust is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VanEck Bitcoin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Bitcoin Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VanEck Bitcoin Correlation With Market

Very weak diversification

The correlation between VanEck Bitcoin Trust and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Bitcoin Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with VanEck Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in VanEck Bitcoin Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with VanEck Etf

0.94	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin	Pair Corr
0.85	BLOK	Amplify Transformational Buyout Trend	Pair Corr
0.68	LEGR	First Trust Indxx	Pair Corr
0.8	BITQ	Bitwise Crypto Industry	Pair Corr
0.67	SPBC	Simplify Equity PLUS	Pair Corr
1.0	BTC	Grayscale Bitcoin Mini	Pair Corr
0.74	DAPP	VanEck Digital Trans Upward Rally	Pair Corr
0.94	CRPT	First Trust SkyBridge Upward Rally	Pair Corr
0.63	QTJA	Innovator ETFs Trust	Pair Corr
0.65	QTOC	Innovator ETFs Trust	Pair Corr
0.78	QTAP	Innovator Growth 100	Pair Corr
0.73	XTAP	Innovator Equity Acc	Pair Corr
0.89	MSTY	YieldMax MSTR Option	Pair Corr
0.66	HCA	HCA Holdings	Pair Corr
0.88	MSFT	Microsoft	Pair Corr
0.86	BA	Boeing	Pair Corr
0.65	AXP	American Express	Pair Corr
0.71	WMT	Walmart	Pair Corr

Moving against VanEck Etf

0.43	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.39	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.57	0.47	0.1	-0.25	0.83	0.92	0.79	0.31	0.22	META
MSFT	0.57		0.91	0.67	0.29	0.1	0.45	0.76	-0.4	-0.18	MSFT
UBER	0.47	0.91		0.74	0.36	0.05	0.45	0.76	-0.45	-0.09	UBER
F	0.1	0.67	0.74		0.55	-0.22	0.07	0.33	-0.33	0.22	F
T	-0.25	0.29	0.36	0.55		-0.41	-0.24	0.15	-0.35	0.14	T
A	0.83	0.1	0.05	-0.22	-0.41		0.87	0.5	0.68	0.44	A
CRM	0.92	0.45	0.45	0.07	-0.24	0.87		0.74	0.35	0.32	CRM
JPM	0.79	0.76	0.76	0.33	0.15	0.5	0.74		-0.16	0.07	JPM
MRK	0.31	-0.4	-0.45	-0.33	-0.35	0.68	0.35	-0.16		0.53	MRK
XOM	0.22	-0.18	-0.09	0.22	0.14	0.44	0.32	0.07	0.53		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.92	META
UBER	+ 0.91	MSFT
CRM	+ 0.87	A
A	+ 0.83	META
JPM	+ 0.79	META
JPM	+ 0.76	MSFT

High negative correlations

MRK	- 0.45	UBER
A	- 0.41	T
MRK	- 0.4	MSFT
MRK	- 0.35	T
MRK	- 0.33	F
T	- 0.25	META

VanEck Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Bitcoin 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 VanEck 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
META	2.38	0.01	0.00	(0.08)	0.00	0.00	4.23	(4.67)	21.50
MSFT	1.44	0.26	0.15	0.17	1.52	(1.52)	3.19	(3.01)	13.79
UBER	2.10	0.23	0.12	(1.40)	2.55	(2.12)	4.19	(3.30)	14.78
F	1.77	0.25	0.15	(0.93)	2.28	(1.86)	3.24	(3.74)	12.96
T	1.33	0.13	0.08	0.31	2.28	(1.27)	2.08	(3.02)	8.94
A	1.81	(0.19)	0.00	(0.24)	0.00	0.00	2.80	(5.45)	14.45
CRM	1.72	(0.17)	0.00	4.93	0.00	0.00	3.02	(4.45)	13.13
JPM	1.61	0.03	0.00	(0.07)	0.00	0.00	2.88	(4.15)	11.14
MRK	1.65	(0.04)	0.00	(0.16)	0.00	0.00	2.77	(4.72)	10.60
XOM	1.39	(0.02)	0.00	(3.11)	0.00	0.00	2.80	(3.20)	10.53

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