Grayscale Ethereum Correlations

ETHE Etf

USD 17.43 0.97 5.89%

The current 90-days correlation between Grayscale Ethereum Trust and Grayscale Bitcoin Trust is -0.03 (i.e., Good diversification). The correlation of Grayscale Ethereum 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.

Grayscale Ethereum Correlation With Market

Average diversification

The correlation between Grayscale Ethereum Trust and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Ethereum Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Grayscale Ethereum Trust. Also, note that the market value of any otc etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Grayscale OTC Etf

0.74	VUG	Vanguard Growth Index	Pair Corr
0.72	VB	Vanguard Small Cap	Pair Corr
0.9	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.72	CAT	Caterpillar	Pair Corr
0.9	MSFT	Microsoft Aggressive Push	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr

Moving against Grayscale OTC Etf

0.91	JNJ	Johnson Johnson	Pair Corr
0.89	PMBS	PIMCO Mortgage Backed	Pair Corr
0.89	T	ATT Inc Aggressive Push	Pair Corr
0.88	VEA	Vanguard FTSE Developed	Pair Corr
0.88	FXY	Invesco CurrencyShares	Pair Corr
0.87	BND	Vanguard Total Bond	Pair Corr
0.86	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.72	MMM	3M Company	Pair Corr
0.71	GE	GE Aerospace	Pair Corr
0.71	IBM	International Business	Pair Corr
0.69	AMPD	Tidal Trust II	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr
0.64	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.56	CSCO	Cisco Systems	Pair Corr
0.53	INTC	Intel Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	0.57	-0.52	0.29	0.43	0.3	0.91	-0.73	-0.04	META
MSFT	-0.01		-0.6	-0.02	-0.8	0.72	0.88	0.12	0.42	-0.56	MSFT
UBER	0.57	-0.6		-0.23	0.81	-0.28	-0.52	0.54	-0.84	0.57	UBER
F	-0.52	-0.02	-0.23		0.06	-0.14	-0.2	-0.41	0.44	0.42	F
T	0.29	-0.8	0.81	0.06		-0.6	-0.72	0.19	-0.65	0.61	T
A	0.43	0.72	-0.28	-0.14	-0.6		0.82	0.57	0.13	-0.38	A
CRM	0.3	0.88	-0.52	-0.2	-0.72	0.82		0.35	0.22	-0.62	CRM
JPM	0.91	0.12	0.54	-0.41	0.19	0.57	0.35		-0.63	0.0	JPM
MRK	-0.73	0.42	-0.84	0.44	-0.65	0.13	0.22	-0.63		-0.35	MRK
XOM	-0.04	-0.56	0.57	0.42	0.61	-0.38	-0.62	0.0	-0.35		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	+ 0.91	META
CRM	+ 0.88	MSFT
CRM	+ 0.82	A
T	+ 0.81	UBER
A	+ 0.72	MSFT
XOM	+ 0.61	T

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.73	META
CRM	- 0.72	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Grayscale Ethereum Competition Risk-Adjusted Indicators

There is a big difference between Grayscale OTC Etf performing well and Grayscale Ethereum OTC 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 Grayscale Ethereum'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	1.63	0.03	0.01	0.02	2.30	(1.45)	2.96	(3.73)	8.90
MSFT	1.11	(0.21)	0.00	(0.24)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.89	0.35	0.15	0.55	2.08	(2.07)	4.72	(3.13)	12.75
F	1.44	0.10	0.05	0.09	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	0.54	1.45	(1.12)	1.90	(1.55)	11.66
A	1.16	(0.19)	0.00	(0.18)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.24)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.06	0.03	0.24	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.24	(0.18)	0.00	1.61	0.00	0.00	2.07	(2.25)	11.58
XOM	1.03	0.13	0.09	0.29	1.29	(1.05)	2.55	(2.36)	5.89

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Our tools can tell you how much better you can do entering a position in Grayscale Ethereum without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. 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 portfolio.

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