SmartETFs Asia Correlations

Etfs . USA . 
Etf . SmartETFs Asia Pacific
ADIV Etf  USD 18.07  0.02  0.11%   
The current 90-days correlation between SmartETFs Asia Pacific and JPMorgan BetaBuilders Developed is 0.75 (i.e., Poor diversification). The correlation of SmartETFs Asia 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.

SmartETFs Asia Correlation With Market

Very weak diversification

The correlation between SmartETFs Asia Pacific and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SmartETFs Asia Pacific and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with SmartETFs Etf
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in SmartETFs Asia Pacific. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with SmartETFs Etf

  0.95BBAX JPMorgan BetaBuildersPairCorr
  0.99AAXJ iShares MSCI AllPairCorr
  0.95EPP iShares MSCI PacificPairCorr
  0.98AIA iShares Asia 50PairCorr
  0.97GMF SPDR SP EmergingPairCorr
  0.98FLAX Franklin FTSE AsiaPairCorr
  0.95DVYA iShares AsiaPacificPairCorr
  0.94FPA First Trust AsiaPairCorr
  0.94MINV Matthews Asia InnovatorsPairCorr
  0.94USD ProShares Ultra SemiPairCorr
  0.78GBTC Grayscale Bitcoin TrustPairCorr
  0.95FNGO MicroSectors FANG IndexPairCorr
  0.76BITO ProShares Bitcoin Potential GrowthPairCorr
  0.9DFEN Direxion Daily AerospacePairCorr
  0.81BTF Valkyrie Bitcoin StrategyPairCorr
  0.96BULZ MicroSectors SolactivePairCorr
  0.95FNGG Direxion Daily SelectPairCorr
  0.9BITS Global X BlockchainPairCorr
  0.61XXRP Teucrium 2x Long Downward RallyPairCorr
  0.88SPRX Spear Alpha ETFPairCorr
  0.88DRSK Aptus Defined RiskPairCorr
  0.77PLTG Leverage Shares 2X Downward RallyPairCorr
  0.94GSFP Goldman Sachs FuturePairCorr
  0.94MDLV EA Series TrustPairCorr
  0.92SFYF SoFi Social 50PairCorr
  0.9TNA Direxion Daily Small Aggressive PushPairCorr
  0.97SIXD AIM ETF ProductsPairCorr
  0.62VTEB Vanguard Tax ExemptPairCorr

Related Correlations Analysis


SmartETFs Asia Constituents Risk-Adjusted Indicators

There is a big difference between SmartETFs Etf performing well and SmartETFs Asia 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 SmartETFs Asia'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BBAX  0.55  0.04 (0.01) 0.19  0.60 
(0.56)
 1.12 
(1.13)
 3.12 
AAXJ  0.62  0.06  0.01  0.22  0.57 
(0.69)
 1.42 
(1.31)
 4.16 
EPP  0.54  0.03 (0.01) 0.18  0.54 
(0.53)
 1.35 
(1.06)
 2.97 
AIA  0.79  0.08  0.05  0.24  0.66 
(0.96)
 2.05 
(1.51)
 4.80 
GMF  0.56  0.03 (0.03) 0.18  0.55 
(0.62)
 1.22 
(1.16)
 3.54 
FLAX  0.54  0.06  0.00  0.26  0.47 
(0.62)
 1.20 
(1.09)
 3.71 
DVYA  0.52  0.13  0.08  0.37  0.41 
(0.57)
 1.28 
(0.92)
 2.93 
FPA  0.91  0.12  0.05  0.34  0.94 
(0.98)
 2.32 
(1.80)
 5.98 
MINV  0.76  0.12  0.07  0.32  0.59 
(0.86)
 1.70 
(1.43)
 4.40 
ADIV  0.53  0.05  0.00  0.22  0.46 
(0.61)
 1.24 
(1.12)
 3.45 

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