与加密货币相关的股票：资产分配框架内的多元化工具

比特币（$ btc）已逐渐成为资产分配框架内的独立资产。由机构等机构考虑

Bitcoin has gradually established itself as a standalone asset within the framework of asset allocation. Considered by institutions to be an excellent diversification tool due to its low correlation with traditional asset classes (stocks, bonds), Bitcoin is attracting an increasing number of investors.

比特币逐渐将自己确立为资产分配框架内的独立资产。由于与传统资产类别（股票，债券）的相关性较低，因此被机构视为一种出色的多元化工具，比特币吸引了越来越多的投资者。

Below, we can see how Bitcoin has behaved during different crises compared to other assets.

下面，我们可以看到比特币与其他资产相比在不同危机时的表现。

However, direct investment in cryptocurrencies comes with significant challenges: high volatility, managing digital wallets, and the administrative complexity of tax reporting for gains or losses. An interesting solution to benefit from the advantages of this market while bypassing these obstacles is to invest in cryptocurrency-related stocks. These stocks offer an indirect alternative to Bitcoin while playing a diversifying role in an investment strategy.

但是，对加密货币的直接投资面临重大挑战：高波动性，管理数字钱包以及税收或损失的税收报告的行政复杂性。一个有趣的解决方案，可以从该市场的优势中受益，同时绕过这些障碍是投资与加密货币相关的股票。这些股票在投资策略中发挥了多样化的作用，为比特币提供了间接替代品。

Why Are Cryptocurrency-Related Stocks Diversification Tools?

为什么与加密货币相关的股票多元化工具？

Stocks of cryptocurrency-related companies occupy a unique position in the investment landscape. They allow investors to benefit from the growth trends of the crypto market without directly investing in digital assets. Like Bitcoin, they exhibit characteristics that make them attractive in a diversified asset allocation:

与加密货币相关的公司的股票在投资格局中占据了独特的地位。它们允许投资者从加密市场的增长趋势中受益，而无需直接投资数字资产。像比特币一样，它们表现出使它们在多元化资产分配中具有吸引力的特征：

Main Categories of Cryptocurrency-Related Stocks

与加密货币相关的股票的主要类别

Which Stocks Are Most Correlated with Bitcoin?

哪些股票与比特币最相关？

Certain stocks have a stronger correlation with Bitcoin due to their direct dependence on its performance. For example:

某些股票与比特币有更强的相关性，因为它们直接依赖其性能。例如：

Coinbase (COIN): The trading volumes on its platform vary according to overall interest in cryptocurrencies.

Coinbase（硬币）：平台上的交易量根据加密货币的总体兴趣而有所不同。

Conversely, companies like NVIDIA or IBM have a lower correlation with Bitcoin as they diversify their activities beyond the crypto market.

相反，像NVIDIA或IBM这样的公司与比特币的相关性较低，因为它们在加密市场之外的活动多样化。

It is even possible to closely mimic Bitcoin’s performance by combining several stocks. For instance, a portfolio comprising (MSTR0.3 + MARA0.3 + COIN*0.7)/1.3 closely tracks Bitcoin’s movements.

甚至可以通过组合几种股票来密切模仿比特币的性能。例如，包括（MSTR0.3 + MARA0.3 + COIN*0.7）/1.3的投资组合密切跟踪比特币的运动。

How to Integrate These Stocks into Asset Allocation

如何将这些股票集成到资产分配中

Crypto Stocks as a Complement to Bitcoin in a Diversified Portfolio

加密股票作为多元化投资组合中比特币的补充

Incorporating cryptocurrency-related stocks into an asset allocation can enhance portfolio diversification. While Bitcoin serves as an uncorrelated asset relative to traditional markets, these stocks offer hybrid exposure. They combine the potential growth of the crypto market with more stable fundamentals, thereby reducing some of the risks associated with direct crypto investment.

将与加密货币相关的股票纳入资产分配可以增强投资组合多样性。尽管比特币相对于传统市场是不相关的资产，但这些股票提供混合风险。它们将加密市场的潜在增长与更稳定的基本面相结合，从而降低了与直接加密投资相关的一些风险。

Our three-year analysis of a balanced portfolio reveals that adding 1.3% Bitcoin had a positive impact on risk-adjusted performance. However, replacing Bitcoin with a basket of three cryptocurrency-related stocks yielded even better results. On the other hand, completely excluding cryptocurrencies led to a significant decline in performance.

我们对平衡投资组合的三年分析表明，增加1.3％的比特币对风险调整后的绩效产生了积极影响。但是，用三个与加密货币相关的股票的篮子代替比特币会产生更好的结果。另一方面，完全不包括加密货币导致绩效大幅下降。

Risks of Investing in Cryptocurrency-Related Stocks

投资与加密货币相关的股票的风险

Investing in cryptocurrency-related stocks, such as those in mining, exchanges, and blockchain technologies, offers potential rewards but also significant risks:

投资与加密货币相关的股票，例如采矿，交流和区块链技术的股票，可提供潜在的奖励，但也具有重大风险：

While offering strong growth potential, these risks require careful consideration and diversification for effective risk management.

在提供强大的增长潜力的同时，这些风险需要仔细考虑和多元化以进行有效的风险管理。

Conclusion

结论

Investing in cryptocurrency-related stocks is a smart strategy to benefit from the rise of this sector while diversifying your portfolio. These stocks provide exposure to the opportunities offered by crypto without the complexities of direct management. As a complement to Bitcoin, they strengthen the diversification role of a portfolio and offer attractive growth potential in a rapidly evolving financial environment. However, it is important to consider the risks associated with these investments. Price fluctuations in cryptocurrencies, uncertain regulation, and market volatility can lead to significant losses. Investors should therefore be aware of these risks and proceed with caution when adding these stocks to their portfolio.

投资与加密货币相关的股票是一项明智的策略，可以从该行业的兴起中受益，同时使您的投资组合多样化。这些股票提供了加密货币提供的机会，而没有直接管理的复杂性。作为对比特币的补充，它们增强了投资组合的多元化作用，并在迅速发展的财务环境中提供了有吸引力的增长潜力。但是，重要的是要考虑与这些投资相关的风险。加密货币，不确定的监管和市场波动的价格波动可能会导致巨大的损失。因此，投资者应注意这些风险，并在将这些股票添加到其投资组合中时要谨慎行事。