Grayscale Litecoin Trust Correlations
| LTCN Stock | USD 8.46 0.28 3.42% |
The current 90-days correlation between Grayscale Litecoin Trust and Grayscale Digital Large is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Grayscale Litecoin Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Grayscale Litecoin Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Grayscale Litecoin Trust Correlation With Market
Average diversification
The correlation between Grayscale Litecoin Trust and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Litecoin Trust and DJI in the same portfolio, assuming nothing else is changed.
Grayscale |
The ability to find closely correlated positions to Grayscale Litecoin Trust 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 Litecoin Trust 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 Litecoin Trust - 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 Litecoin Trust to buy it.
Moving together with Grayscale OTC Stock
| 0.84 | BBGI | Beasley Broadcast | PairCorr |
| 0.63 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.63 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.75 | AA | Alcoa Corp | PairCorr |
| 0.61 | DIS | Walt Disney | PairCorr |
| 0.82 | MSFT | Microsoft Aggressive Push | PairCorr |
| 0.72 | HPQ | HP Inc | PairCorr |
Moving against Grayscale OTC Stock
| 0.67 | HROWM | Harrow Health, 11875 | PairCorr |
| 0.65 | CWCO | Consolidated Water Earnings Call Today | PairCorr |
| 0.58 | SSNLF | Samsung Electronics | PairCorr |
| 0.48 | GS-PA | Goldman Sachs | PairCorr |
| 0.36 | MS-PK | Morgan Stanley | PairCorr |
| 0.8 | JNJ | Johnson Johnson | PairCorr |
| 0.74 | TRV | The Travelers Companies | PairCorr |
| 0.73 | WM | Waste Management | PairCorr |
| 0.73 | GE | GE Aerospace | PairCorr |
| 0.72 | VZ | Verizon Communications Sell-off Trend | PairCorr |
| 0.67 | KO | Coca Cola Sell-off Trend | PairCorr |
| 0.62 | CVX | Chevron Corp | PairCorr |
| 0.56 | MCD | McDonalds | PairCorr |
| 0.47 | CSCO | Cisco Systems | PairCorr |
| 0.44 | PG | Procter Gamble | PairCorr |
Related Correlations Analysis
| 0.64 | 0.88 | 0.69 | 0.57 | BCHG | ||
| 0.64 | 0.84 | 0.99 | 0.89 | GDLC | ||
| 0.88 | 0.84 | 0.87 | 0.81 | ETHE | ||
| 0.69 | 0.99 | 0.87 | 0.89 | BITW | ||
| 0.57 | 0.89 | 0.81 | 0.89 | BRPHF | ||
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Risk-Adjusted Indicators
There is a big difference between Grayscale OTC Stock performing well and Grayscale Litecoin Trust 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 Litecoin Trust'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BCHG | 4.11 | (1.12) | 0.00 | (0.73) | 0.00 | 6.92 | 33.08 | |||
| GDLC | 2.92 | (0.32) | 0.00 | (0.60) | 0.00 | 5.25 | 17.79 | |||
| 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 |
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