Bitwise Funds Correlations

AETH Etf

31.34 0.03 0.1%

The current 90-days correlation between Bitwise Funds Trust and Grayscale Funds Trust is 0.15 (i.e., Average diversification). The correlation of Bitwise Funds 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.

Bitwise Funds Correlation With Market

Good diversification

The correlation between Bitwise Funds Trust and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitwise Funds Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bitwise Funds 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 estimate.

Moving together with Bitwise Etf

0.69	BLCN	Siren Nasdaq NexGen	Pair Corr
0.67	BITQ	Bitwise Crypto Industry	Pair Corr
0.7	DAPP	VanEck Digital Trans	Pair Corr
0.64	CRPT	First Trust SkyBridge	Pair Corr

Moving against Bitwise Etf

0.55	LEGR	First Trust Indxx	Pair Corr
0.33	BND	Vanguard Total Bond	Pair Corr
0.32	VTV	Vanguard Value Index	Pair Corr
0.84	BSCP	Invesco BulletShares 2025	Pair Corr
0.77	CGUI	Capital Group Fixed	Pair Corr
0.73	CADEX	Cion Ares Diversified	Pair Corr
0.7	DDWM	WisdomTree Dynamic	Pair Corr
0.68	UGL	ProShares Ultra Gold	Pair Corr
0.66	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.62	COMT	iShares GSCI Commodity	Pair Corr
0.61	CAAA	First Trust Exchange	Pair Corr
0.56	FIVA	Fidelity International	Pair Corr
0.54	VEA	Vanguard FTSE Developed	Pair Corr
0.54	TCHI	iShares MSCI China	Pair Corr
0.52	YINN	Direxion Daily FTSE	Pair Corr
0.48	DWSH	AdvisorShares Dorsey	Pair Corr
0.47	PSQ	ProShares Short QQQ	Pair Corr
0.42	FLBR	Franklin FTSE Brazil	Pair Corr
0.82	MNA	IQ Merger Arbitrage	Pair Corr
0.73	BOIL	ProShares Ultra Bloomberg Buyout Trend	Pair Corr
0.7	SCHO	Schwab Short Term	Pair Corr
0.6	NYC	New York City	Pair Corr
0.6	SPEU	SPDR Portfolio Europe	Pair Corr
0.57	DWM	WisdomTree International	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.14	0.66	-0.48	0.43	0.36	0.16	0.89	-0.77	0.14	META
MSFT	-0.14		-0.64	0.31	-0.77	0.65	0.89	0.0	0.49	-0.33	MSFT
UBER	0.66	-0.64		-0.48	0.8	-0.23	-0.55	0.58	-0.86	0.46	UBER
F	-0.48	0.31	-0.48		-0.2	0.12	0.15	-0.38	0.62	0.23	F
T	0.43	-0.77	0.8	-0.2		-0.54	-0.68	0.25	-0.68	0.48	T
A	0.36	0.65	-0.23	0.12	-0.54		0.75	0.58	0.12	-0.11	A
CRM	0.16	0.89	-0.55	0.15	-0.68	0.75		0.24	0.3	-0.38	CRM
JPM	0.89	0.0	0.58	-0.38	0.25	0.58	0.24		-0.65	0.16	JPM
MRK	-0.77	0.49	-0.86	0.62	-0.68	0.12	0.3	-0.65		-0.31	MRK
XOM	0.14	-0.33	0.46	0.23	0.48	-0.11	-0.38	0.16	-0.31		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

JPM	+ 0.89	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.75	A
UBER	+ 0.66	META
A	+ 0.65	MSFT

High negative correlations

MRK	- 0.86	UBER
T	- 0.77	MSFT
MRK	- 0.77	META
MRK	- 0.68	T
CRM	- 0.68	T
MRK	- 0.65	JPM

Bitwise Funds Competition Risk-Adjusted Indicators

There is a big difference between Bitwise Etf performing well and Bitwise Funds 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 Bitwise Funds' 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	1.61	0.01	0.00	(0.08)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.15)	0.00	(0.32)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.94	0.22	0.10	0.31	2.41	(2.00)	4.72	(3.30)	12.75
F	1.44	0.07	0.00	(0.03)	0.00	0.00	2.71	(2.89)	10.14
T	1.05	0.26	0.17	0.38	1.59	(1.13)	1.90	(1.75)	11.66
A	1.13	(0.12)	0.00	(0.22)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.06	0.00	(0.04)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.17	(0.07)	0.00	1.31	0.00	0.00	2.07	(1.80)	11.58
XOM	1.05	0.07	0.09	0.06	1.38	(1.09)	2.55	(2.36)	5.89

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