Grayscale Digital Correlations
| GDLC Stock | USD 36.75 1.85 5.30% |
The current 90-days correlation between Grayscale Digital Large and Grayscale Litecoin Trust is 0.54 (i.e., Very weak diversification). The correlation of Grayscale Digital 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 Digital Correlation With Market
Average diversification
The correlation between Grayscale Digital Large and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Digital Large and DJI in the same portfolio, assuming nothing else is changed.
Grayscale |
The ability to find closely correlated positions to Grayscale Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grayscale Digital 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 Grayscale Digital - 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 Grayscale Digital Large to buy it.
Moving together with Grayscale OTC Stock
| 0.66 | BBGI | Beasley Broadcast | PairCorr |
| 0.74 | PTAIY | Astra International Tbk | PairCorr |
| 0.81 | BKRKY | Bank Rakyat | PairCorr |
| 0.75 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.68 | AA | Alcoa Corp | PairCorr |
| 0.65 | DIS | Walt Disney | PairCorr |
| 0.76 | HD | Home Depot | PairCorr |
| 0.76 | AXP | American Express | PairCorr |
| 0.83 | CAT | Caterpillar | PairCorr |
| 0.88 | MSFT | Microsoft Aggressive Push | PairCorr |
| 0.64 | HPQ | HP Inc | PairCorr |
Moving against Grayscale OTC Stock
| 0.55 | CWCO | Consolidated Water Earnings Call Today | PairCorr |
| 0.45 | GS-PA | Goldman Sachs | PairCorr |
| 0.34 | HROWM | Harrow Health, 11875 | PairCorr |
| 0.32 | SSNLF | Samsung Electronics | PairCorr |
| 0.74 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.73 | VZ | Verizon Communications | PairCorr |
| 0.73 | KO | Coca Cola | PairCorr |
| 0.65 | TRV | The Travelers Companies | PairCorr |
| 0.64 | MCD | McDonalds | PairCorr |
| 0.58 | WM | Waste Management | PairCorr |
| 0.44 | CVX | Chevron Corp | PairCorr |
| 0.41 | PG | Procter Gamble | PairCorr |
| 0.36 | GE | GE Aerospace | PairCorr |
| 0.35 | CSCO | Cisco Systems | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Grayscale OTC Stock performing well and Grayscale Digital OTC Stock 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 Digital'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LTCN | 5.30 | (0.89) | 0.00 | (0.77) | 0.00 | 10.26 | 40.73 | |||
| BCHG | 4.11 | (1.12) | 0.00 | (0.73) | 0.00 | 6.92 | 33.08 | |||
| ETHE | 3.46 | (0.94) | 0.00 | (3.43) | 0.00 | 4.60 | 24.92 | |||
| BITW | 2.84 | (0.35) | 0.00 | (1.01) | 0.00 | 5.38 | 13.44 | |||
| BRPHF | 3.69 | (0.45) | 0.00 | (0.20) | 0.00 | 7.13 | 28.91 |
Be your own money manager
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