21Shares Crypto Correlations

HODLX Etf

31.69 1.08 3.53%

The current 90-days correlation between 21Shares Crypto Basket and 21Shares Decentraland ETP is 0.21 (i.e., Modest diversification). The correlation of 21Shares Crypto 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.

21Shares Crypto Correlation With Market

Average diversification

The correlation between 21Shares Crypto Basket 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 21Shares Crypto Basket and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 21Shares Crypto could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 21Shares Crypto 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 21Shares Crypto - 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 21Shares Crypto Basket to buy it.

Moving together with 21Shares Etf

0.66	GBS	Gold Bullion Securities	Pair Corr
0.93	HHH	HSBC SP 500	Pair Corr
0.93	SPY5	SPDR SP 500	Pair Corr

Moving against 21Shares Etf

0.74	CAC	Amundi CAC 40	Pair Corr
0.74	CACC	Lyxor CAC 40	Pair Corr
0.46	MSE	Lyxor UCITS Stoxx	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.55	0.04	0.55	0.04	0.64	0.28	-0.53	0.72	META
MSFT	0.27		0.22	0.15	0.18	-0.01	0.03	-0.12	0.12	-0.19	MSFT
UBER	0.55	0.22		-0.05	-0.06	0.27	-0.01	-0.14	0.08	0.35	UBER
F	0.04	0.15	-0.05		0.2	-0.4	0.47	0.69	-0.34	0.32	F
T	0.55	0.18	-0.06	0.2		-0.5	0.79	0.6	-0.78	0.38	T
A	0.04	-0.01	0.27	-0.4	-0.5		-0.47	-0.62	0.64	-0.01	A
CRM	0.64	0.03	-0.01	0.47	0.79	-0.47		0.85	-0.91	0.65	CRM
JPM	0.28	-0.12	-0.14	0.69	0.6	-0.62	0.85		-0.83	0.48	JPM
MRK	-0.53	0.12	0.08	-0.34	-0.78	0.64	-0.91	-0.83		-0.56	MRK
XOM	0.72	-0.19	0.35	0.32	0.38	-0.01	0.65	0.48	-0.56		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	+ 0.85	CRM
CRM	+ 0.79	T
XOM	+ 0.72	META
JPM	+ 0.69	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.62	A
XOM	- 0.56	MRK
MRK	- 0.53	META

21Shares Crypto Competition Risk-Adjusted Indicators

There is a big difference between 21Shares Etf performing well and 21Shares Crypto 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 Crypto'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	1.06	0.06	0.02	0.20	1.40	(1.15)	2.62	(3.15)	8.02
MSFT	0.92	(0.05)	(0.05)	0.05	1.49	(0.89)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.30	(1.74)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.20	(1.42)	2.53	(2.90)	11.21
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.34	0.21	0.16	0.30	1.16	(1.53)	3.18	(1.93)	9.09
JPM	1.12	(0.01)	0.06	0.11	1.40	(1.21)	2.05	(2.00)	15.87
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.01	(0.05)	(0.08)	0.02	1.33	(1.07)	2.10	(2.09)	5.74

21Shares Crypto Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with 21Shares Crypto etf to make a market-neutral strategy. Peer analysis of 21Shares Crypto could also be used in its relative valuation, which is a method of valuing 21Shares Crypto by comparing valuation metrics with similar companies.

21Shares Crypto Basket 21Shares Decentraland ETP 21Shares Uniswap ETP 21Shares Cosmos Staking 21Shares Crypto Mid Cap 21Shares Aave ETP 21Shares Crypto Basket 21Shares Solana staking 21Shares Polkadot ETP American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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