ARK 21Shares Correlations

ARKB Etf

96.97 0.35 0.36%

The current 90-days correlation between ARK 21Shares Bitcoin and ProShares Trust is 0.78 (i.e., Poor diversification). The correlation of ARK 21Shares 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.

ARK 21Shares Correlation With Market

Very weak diversification

The correlation between ARK 21Shares Bitcoin and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARK 21Shares Bitcoin and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ARK 21Shares Bitcoin. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with ARK Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin	Pair Corr
0.98	BLOK	Amplify Transformational	Pair Corr
0.94	BLCN	Siren Nasdaq NexGen	Pair Corr
0.97	BITQ	Bitwise Crypto Industry	Pair Corr
0.95	SPBC	Simplify Equity PLUS	Pair Corr
1.0	BTC	Grayscale Bitcoin Mini	Pair Corr
0.97	DAPP	VanEck Digital Trans	Pair Corr
0.96	CRPT	First Trust SkyBridge	Pair Corr
0.87	VTI	Vanguard Total Stock	Pair Corr
0.84	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.84	IVV	iShares Core SP	Pair Corr
0.8	VTV	Vanguard Value Index	Pair Corr
0.86	VUG	Vanguard Growth Index	Pair Corr
0.9	VO	Vanguard Mid Cap	Pair Corr
0.92	VB	Vanguard Small Cap	Pair Corr
0.96	DIS	Walt Disney Sell-off Trend	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.9	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.8	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.79	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.81	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.91	WMT	Walmart Aggressive Push	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.89	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.72	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against ARK Etf

0.76	VEA	Vanguard FTSE Developed	Pair Corr
0.71	BND	Vanguard Total Bond	Pair Corr
0.86	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.64	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-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	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

ARK 21Shares Competition Risk-Adjusted Indicators

There is a big difference between ARK Etf performing well and ARK 21Shares 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 ARK 21Shares' 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	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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