21shares Core Correlations

CETH Etf

USD 17.60 0.92 5.52%

The current 90-days correlation between 21shares Core Ethereum and ProShares Trust is 1.0 (i.e., No risk reduction). The correlation of 21shares Core 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.

21shares Core Correlation With Market

Modest diversification

The correlation between 21shares Core Ethereum and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 21shares Core Ethereum 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 21shares Core Ethereum. 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 21shares Etf

0.72	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.93	BITO	ProShares Bitcoin	Pair Corr
0.94	BLOK	Amplify Transformational	Pair Corr
0.69	BLCN	Siren Nasdaq NexGen	Pair Corr
0.87	BITQ	Bitwise Crypto Industry	Pair Corr
0.95	SPBC	Simplify Equity PLUS	Pair Corr
0.92	BTC	Grayscale Bitcoin Mini	Pair Corr
0.87	DAPP	VanEck Digital Trans	Pair Corr
0.9	CRPT	First Trust SkyBridge	Pair Corr
0.95	ARKW	ARK Next Generation	Pair Corr
0.82	WTMF	WisdomTree Managed	Pair Corr
0.79	BST	BlackRock Science Tech	Pair Corr
0.74	DIS	Walt Disney	Pair Corr
0.66	BAC	Bank of America Sell-off Trend	Pair Corr
0.61	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.62	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.78	AXP	American Express Earnings Call This Week	Pair Corr
0.74	WMT	Walmart	Pair Corr

Moving against 21shares Etf

0.61	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.38	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.57	-0.59	0.32	0.57	0.53	0.34	-0.06	-0.67	META
MSFT	0.73		-0.53	-0.24	0.56	0.23	0.65	0.25	-0.1	-0.47	MSFT
UBER	-0.57	-0.53		0.64	-0.58	-0.08	-0.78	-0.56	0.67	0.81	UBER
F	-0.59	-0.24	0.64		0.01	-0.25	-0.2	-0.07	0.2	0.9	F
T	0.32	0.56	-0.58	0.01		0.0	0.8	0.59	-0.45	-0.23	T
A	0.57	0.23	-0.08	-0.25	0.0		0.12	0.22	0.32	-0.19	A
CRM	0.53	0.65	-0.78	-0.2	0.8	0.12		0.7	-0.59	-0.44	CRM
JPM	0.34	0.25	-0.56	-0.07	0.59	0.22	0.7		-0.62	-0.25	JPM
MRK	-0.06	-0.1	0.67	0.2	-0.45	0.32	-0.59	-0.62		0.32	MRK
XOM	-0.67	-0.47	0.81	0.9	-0.23	-0.19	-0.44	-0.25	0.32		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

XOM	+ 0.9	F
XOM	+ 0.81	UBER
CRM	+ 0.8	T
MSFT	+ 0.73	META
JPM	+ 0.7	CRM
MRK	+ 0.67	UBER

High negative correlations

CRM	- 0.78	UBER
XOM	- 0.67	META
MRK	- 0.62	JPM
MRK	- 0.59	CRM
F	- 0.59	META
T	- 0.58	UBER

21shares Core Competition Risk-Adjusted Indicators

There is a big difference between 21shares Etf performing well and 21shares Core 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 21shares Core'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	1.36	0.06	0.03	0.21	1.51	(1.56)	3.43	(3.15)	7.43
MSFT	0.92	0.04	0.01	1.07	1.58	(0.87)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(26.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.08)	0.00	(0.17)	0.00	0.00	2.38	(2.81)	11.21
T	0.97	0.08	0.06	0.24	1.10	(1.04)	1.91	(1.84)	7.96
A	1.21	0.03	0.01	0.09	1.45	(1.33)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.10	0.79	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.03	0.25	0.17	1.11	1.11	(1.17)	1.92	(1.42)	15.87
MRK	1.00	(0.17)	0.00	(0.68)	0.00	0.00	1.74	(2.17)	5.17
XOM	0.76	(0.15)	0.00	(0.37)	0.00	0.00	1.71	(1.67)	6.06

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