ARDR Correlations
ARDR Crypto | USD 0.12 0.02 20.00% |
The current 90-days correlation between ARDR and Ethereum is 0.28 (i.e., Modest diversification). The correlation of ARDR 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.
ARDR Correlation With Market
Significant diversification
The correlation between ARDR and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARDR and DJI in the same portfolio, assuming nothing else is changed. Please note that ARDR is a digital instrument and cryptocurrency exchanges were notoriously volatile since the beginning of their establishment.
ARDR |
The ability to find closely correlated positions to ARDR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ARDR 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 ARDR - 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 ARDR to buy it.
Moving together with ARDR Crypto Coin
0.8 | ETH | Ethereum | PairCorr |
0.66 | XRP | XRP | PairCorr |
0.79 | SOL | Solana | PairCorr |
0.72 | ADA | Cardano | PairCorr |
0.8 | STETH | Staked Ether | PairCorr |
0.87 | SUI | Sui | PairCorr |
0.65 | XLM | Stellar | PairCorr |
0.81 | WLD | Worldcoin | PairCorr |
0.86 | AVAX | Avalanche | PairCorr |
0.8 | LINK | Chainlink | PairCorr |
0.73 | TRX | TRON | PairCorr |
0.88 | APT | Aptos | PairCorr |
0.81 | WBTC | Wrapped Bitcoin | PairCorr |
0.83 | UNI | Uniswap Protocol Token | PairCorr |
0.7 | DOT | Polkadot | PairCorr |
0.85 | ONDO | Ondo | PairCorr |
0.73 | JUP | Jupiter | PairCorr |
0.84 | ENA | Ethena | PairCorr |
0.77 | OP | Optimism | PairCorr |
0.79 | ARB | Arbitrum | PairCorr |
0.68 | TIA | Celestia | PairCorr |
0.82 | NEAR | Near | PairCorr |
0.76 | WBT | WhiteBIT Token | PairCorr |
0.75 | LEO | LEO Token | PairCorr |
0.67 | HBAR | Hedera Hashgraph | PairCorr |
0.8 | WEETH | Wrapped eETH | PairCorr |
0.72 | STRK | Starknet | PairCorr |
0.64 | ICP | Internet Computer | PairCorr |
0.9 | SEI | Sei | PairCorr |
0.7 | CRO | Cronos | PairCorr |
0.77 | MANTLE | Mantle | PairCorr |
0.72 | TAO | Bittensor | PairCorr |
0.85 | PYTH | Pyth Network | PairCorr |
0.73 | RNDR | Render Token | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between ARDR Crypto Coin performing well and ARDR 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 ARDR'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
ETH | 2.52 | 0.29 | 0.11 | 0.32 | 2.79 | 6.35 | 16.62 | |||
XRP | 3.81 | 1.38 | 0.40 | 1.50 | 2.25 | 15.58 | 31.55 | |||
SOL | 3.22 | 0.77 | 0.18 | 3.49 | 3.10 | 6.37 | 21.69 | |||
ADA | 4.48 | 1.51 | 0.27 | 1.03 | 3.82 | 13.89 | 34.67 | |||
STETH | 2.54 | 0.30 | 0.11 | 0.32 | 2.71 | 6.34 | 16.67 | |||
SUI | 5.09 | 2.36 | 0.49 | 9.31 | 3.40 | 15.64 | 28.32 | |||
TON | 2.77 | 0.05 | 0.03 | 0.16 | 3.17 | 4.82 | 25.61 | |||
XLM | 5.49 | 2.58 | 0.62 | 1.91 | 2.46 | 30.00 | 68.33 | |||
WLD | 5.40 | 0.60 | 0.13 | 0.41 | 5.24 | 13.53 | 33.99 | |||
AVAX | 4.11 | 0.87 | 0.22 | 0.89 | 3.58 | 11.70 | 24.68 |
Be your own crypto manager
Our tools can tell you how much better you can do entering a position in ARDR 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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