Bitwise 10 Correlations
| BITW Fund | USD 50.62 0.58 1.13% |
The current 90-days correlation between Bitwise 10 Crypto and Grayscale Digital Large is 0.93 (i.e., Almost no diversification). The correlation of Bitwise 10 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Bitwise 10 Correlation With Market
Average diversification
The correlation between Bitwise 10 Crypto and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitwise 10 Crypto and DJI in the same portfolio, assuming nothing else is changed.
Bitwise |
Moving together with Bitwise OTC Fund
Moving against Bitwise OTC Fund
| 0.78 | ACCSX | Access Capital Munity | PairCorr |
| 0.78 | PRAPX | Pimco Total Return | PairCorr |
| 0.77 | HIMZX | Virtus Low Duration | PairCorr |
| 0.69 | WLATTX | Wlattx | PairCorr |
| 0.69 | OSIIX | Oppenheimer Global Strtgc | PairCorr |
| 0.66 | VMSIX | Vanguard Multi Sector | PairCorr |
| 0.65 | FPPAX | Mfs Prudent Investor | PairCorr |
| 0.64 | OWCIX | Old Westbury Credit | PairCorr |
| 0.64 | TEDMX | Templeton Developing | PairCorr |
| 0.6 | HGLB | Highland Global Allo | PairCorr |
| 0.59 | FMY | First Trust Mortgage | PairCorr |
| 0.58 | REMVX | Rbc Emerging Markets | PairCorr |
| 0.54 | MFIRX | Ms Global Fixed | PairCorr |
| 0.53 | RYWTX | Emerging Markets | PairCorr |
| 0.51 | AFTEX | Tax Exempt Bond | PairCorr |
| 0.5 | VWIAX | Vanguard Wellesley Income | PairCorr |
| 0.5 | PNMCX | Prudential National Muni | PairCorr |
| 0.49 | RDWGX | American Funds Developing | PairCorr |
| 0.47 | WMRIX | Wilmington Multi-manager | PairCorr |
| 0.41 | CUBA | Herzfeld Caribbean Basin | PairCorr |
| 0.41 | MNCRX | Pro-blend(r) Conservative | PairCorr |
| 0.38 | CITAX | American High Income | PairCorr |
| 0.82 | HIO | Western Asset High | PairCorr |
| 0.79 | FSUGX | American Funds Government | PairCorr |
| 0.79 | BRAMX | Bats Series M | PairCorr |
| 0.77 | SMCHX | Alpssmith Total Return | PairCorr |
| 0.76 | ISD | Pgim High Yield | PairCorr |
| 0.76 | TRIGX | T Rowe Price | PairCorr |
| 0.75 | BORIX | Collegeadvantage 529 | PairCorr |
| 0.72 | GQJPX | Gqg Partners Interna | PairCorr |
| 0.71 | LIFAX | Lord Abbett Inflation | PairCorr |
| 0.69 | LSVFX | Lsv Global Managed | PairCorr |
| 0.68 | FHKCX | Fidelity China Region | PairCorr |
| 0.67 | VMSAX | Vanguard Multi Sector | PairCorr |
Related Correlations Analysis
| 0.83 | 0.64 | 0.56 | 0.97 | GDLC | ||
| 0.83 | 0.89 | 0.88 | 0.84 | ETHE | ||
| 0.64 | 0.89 | 0.85 | 0.66 | LTCN | ||
| 0.56 | 0.88 | 0.85 | 0.55 | BCHG | ||
| 0.97 | 0.84 | 0.66 | 0.55 | GBTC | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Bitwise OTC Fund performing well and Bitwise 10 OTC Fund 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 10'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GDLC | 2.81 | (0.17) | 0.00 | (0.28) | 0.00 | 4.95 | 17.79 | |||
| ETHE | 3.43 | (0.73) | 0.00 | (0.62) | 0.00 | 4.60 | 24.92 | |||
| LTCN | 5.24 | (0.69) | 0.00 | (0.55) | 0.00 | 10.26 | 40.73 | |||
| BCHG | 4.08 | (0.95) | 0.00 | (0.65) | 0.00 | 6.12 | 33.08 | |||
| GBTC | 2.34 | (0.08) | 0.00 | (0.16) | 0.00 | 4.39 | 15.68 |
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