VanEck Digital Correlations

DAPP Etf

USD 16.55 0.22 1.35%

The current 90-days correlation between VanEck Digital Trans and The Advisors Inner is 0.66 (i.e., Poor diversification). The correlation of VanEck Digital 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.

VanEck Digital Correlation With Market

Very weak diversification

The correlation between VanEck Digital Transformation and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Digital Transformation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with VanEck Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in VanEck Digital Transformation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with VanEck Etf

0.99	BLOK	Amplify Transformational	Pair Corr
0.97	BLCN	Siren Nasdaq NexGen	Pair Corr
0.99	BITQ	Bitwise Funds Trust	Pair Corr
0.9	CRPT	First Trust SkyBridge	Pair Corr
1.0	FDIG	Fidelity Crypto Industry	Pair Corr
0.8	HECO	SPDR Galaxy Hedged	Pair Corr
0.99	BITS	Global X Blockchain	Pair Corr
0.97	STCE	Schwab Strategic Trust	Pair Corr
0.99	IBLC	iShares Blockchain and	Pair Corr
0.68	PTIR	GraniteShares 2x Long Buyout Trend	Pair Corr
0.67	PLTU	Direxion Daily PLTR Buyout Trend	Pair Corr

Moving against VanEck Etf

0.52	CARY	Angel Oak Income	Pair Corr
0.51	IBTI	iShares iBonds Dec	Pair Corr
0.49	AGQ	ProShares Ultra Silver	Pair Corr
0.48	KIE	SPDR SP Insurance	Pair Corr
0.37	FELV	Fidelity Covington Trust	Pair Corr
0.35	GDMN	WisdomTree Efficient Gold	Pair Corr
0.33	MUU	Direxion Daily MU Upward Rally	Pair Corr
0.32	MULL	GraniteShares 2x Long Upward Rally	Pair Corr
0.77	CORD	T REX 2X Trending	Pair Corr
0.66	FCG	First Trust Natural	Pair Corr
0.62	ELD	WisdomTree Emerging	Pair Corr
0.62	EJAN	Innovator MSCI Emerging	Pair Corr
0.6	MEDI	Harbor Health Care	Pair Corr
0.55	LABU	Direxion Daily SP	Pair Corr
0.51	NBFC	Neuberger Berman ETF	Pair Corr
0.46	VFMF	Vanguard Multifactor	Pair Corr
0.46	UJAN	Innovator SP 500	Pair Corr
0.44	CPSR	Calamos SP 500	Pair Corr
0.43	EDOW	First Trust Dow	Pair Corr
0.43	GAPR	First Trust Exchange	Pair Corr
0.4	FIAX	Nicholas Fixed Income	Pair Corr

Related Correlations Analysis

	CARK	ENFR	CWEB	DNOV	FTXL	CEFS	BBLU	METV	IDLV	CAML
CARK		-0.39	0.3	0.06	0.5	0.53	0.71	0.56	-0.1	0.95	CARK
ENFR	-0.39		0.18	0.08	-0.26	-0.14	-0.36	-0.03	0.32	-0.25	ENFR
CWEB	0.3	0.18		-0.79	-0.57	-0.32	-0.34	0.9	-0.38	0.42	CWEB
DNOV	0.06	0.08	-0.79		0.81	0.62	0.65	-0.66	0.62	-0.01	DNOV
FTXL	0.5	-0.26	-0.57	0.81		0.81	0.88	-0.29	0.36	0.4	FTXL
CEFS	0.53	-0.14	-0.32	0.62	0.81		0.81	-0.02	0.37	0.53	CEFS
BBLU	0.71	-0.36	-0.34	0.65	0.88	0.81		-0.06	0.39	0.63	BBLU
METV	0.56	-0.03	0.9	-0.66	-0.29	-0.02	-0.06		-0.39	0.68	METV
IDLV	-0.1	0.32	-0.38	0.62	0.36	0.37	0.39	-0.39		-0.08	IDLV
CAML	0.95	-0.25	0.42	-0.01	0.4	0.53	0.63	0.68	-0.08		CAML
	CARK	ENFR	CWEB	DNOV	FTXL	CEFS	BBLU	METV	IDLV	CAML

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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

CAML	+ 0.95	CARK
METV	+ 0.9	CWEB
BBLU	+ 0.88	FTXL
FTXL	+ 0.81	DNOV
CEFS	+ 0.81	FTXL
BBLU	+ 0.81	CEFS

High negative correlations

DNOV	- 0.79	CWEB
METV	- 0.66	DNOV
FTXL	- 0.57	CWEB
IDLV	- 0.39	METV
ENFR	- 0.39	CARK
IDLV	- 0.38	CWEB

VanEck Digital Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Digital 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 VanEck Digital'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
CARK	0.83	(0.10)	0.00	(0.03)	0.00	0.00	1.64	(2.01)	4.84
ENFR	0.66	(0.06)	0.00	(0.08)	0.00	0.00	1.21	(1.58)	3.78
CWEB	2.40	(0.58)	0.00	(0.21)	0.00	0.00	4.78	(4.55)	19.94
DNOV	0.22	0.02	(0.04)	0.13	0.18	(0.24)	0.53	(0.45)	1.85
FTXL	1.82	0.11	0.07	0.12	2.31	(1.95)	3.76	(4.41)	9.99
CEFS	0.41	(0.01)	(0.08)	0.05	0.46	(0.43)	0.82	(0.75)	2.20
BBLU	0.55	(0.04)	(0.06)	0.02	0.69	(0.61)	1.16	(0.85)	3.34
METV	1.20	(0.25)	0.00	(0.12)	0.00	0.00	2.62	(3.00)	6.51
IDLV	0.42	(0.03)	(0.12)	(0.01)	0.51	(0.46)	0.75	(0.82)	2.52
CAML	0.69	(0.10)	0.00	(0.04)	0.00	0.00	1.25	(1.87)	3.83

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