Gigachad Correlations
GIGA Crypto | 0.07 0 2.29% |
The current 90-days correlation between Gigachad and XRP is -0.15 (i.e., Good diversification). The correlation of Gigachad 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.
Gigachad Correlation With Market
Average diversification
The correlation between Gigachad and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gigachad and DJI in the same portfolio, assuming nothing else is changed. Please note that Gigachad is a digital instrument and cryptocurrency exchanges were notoriously volatile since the beginning of their establishment.
Gigachad |
The ability to find closely correlated positions to Gigachad could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gigachad 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 Gigachad - 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 Gigachad to buy it.
Moving against Gigachad Crypto Coin
0.65 | APT | Aptos | PairCorr |
0.44 | AVAX | Avalanche | PairCorr |
0.42 | WLD | Worldcoin | PairCorr |
0.42 | JUP | Jupiter | PairCorr |
0.41 | TON | Toncoin | PairCorr |
0.36 | STETH | Staked Ether | PairCorr |
0.34 | DOT | Polkadot | PairCorr |
0.32 | SOL | Solana | PairCorr |
0.32 | ONDO | Ondo | PairCorr |
0.51 | OP | Optimism | PairCorr |
0.47 | NEAR | Near | PairCorr |
0.47 | TIA | Celestia | PairCorr |
0.43 | EIGEN | EigenLayer | PairCorr |
0.4 | POL | Polygon Ecosystem Token | PairCorr |
0.39 | ARB | Arbitrum | PairCorr |
0.39 | MATIC | Polygon | PairCorr |
0.36 | WEETH | Wrapped eETH | PairCorr |
0.33 | ICP | Internet Computer | PairCorr |
0.33 | ZRO | LayerZero | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Gigachad Crypto Coin performing well and Gigachad 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 Gigachad'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
XRP | 5.87 | 2.97 | 0.67 | 1.33 | 3.12 | 17.60 | 38.83 | |||
SOL | 3.95 | 0.72 | 0.16 | 1.06 | 3.79 | 10.28 | 23.66 | |||
SUI | 5.20 | 1.51 | 0.29 | 1.27 | 4.44 | 16.63 | 32.33 | |||
STETH | 3.18 | 0.42 | 0.11 | 0.59 | 3.53 | 7.58 | 21.77 | |||
TON | 3.11 | 0.06 | 0.01 | 0.08 | 3.95 | 6.91 | 28.74 | |||
LINK | 5.60 | 1.47 | 0.26 | (8.86) | 4.69 | 12.47 | 37.68 | |||
XLM | 7.59 | 2.89 | 0.43 | 1.83 | 4.76 | 30.00 | 68.33 | |||
TRX | 5.83 | 1.38 | 0.17 | 0.96 | 5.06 | 8.33 | 138.26 | |||
WLD | 6.02 | 0.08 | 0.02 | 0.05 | 6.63 | 12.73 | 49.17 | |||
HBAR | 8.97 | 3.62 | 0.59 | 2.39 | 4.39 | 28.57 | 94.47 |
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