ETRACS Monthly Correlations

HDLB Etf

USD 15.82 0.79 5.26%

The current 90-days correlation between ETRACS Monthly Pay and Direxion Daily AMZN is 0.07 (i.e., Significant diversification). The correlation of ETRACS Monthly 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.

ETRACS Monthly Correlation With Market

Good diversification

The correlation between ETRACS Monthly Pay and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETRACS Monthly Pay and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ETRACS Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ETRACS Monthly Pay. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with ETRACS Etf

0.65	UYG	ProShares Ultra Fina	Pair Corr
0.73	HD	Home Depot	Pair Corr
0.64	MMM	3M Company Earnings Call This Week	Pair Corr
0.65	VZ	Verizon Communications	Pair Corr
0.61	TRV	The Travelers Companies	Pair Corr

Moving against ETRACS Etf

0.32

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.11	-0.06	-0.19	0.64	-0.47	-0.41	-0.16	-0.45	-0.24	META
MSFT	0.11		-0.14	-0.16	-0.48	0.01	-0.27	-0.02	-0.12	-0.27	MSFT
UBER	-0.06	-0.14		0.79	0.11	0.5	-0.45	0.73	0.36	0.64	UBER
F	-0.19	-0.16	0.79		0.02	0.65	-0.46	0.64	0.61	0.61	F
T	0.64	-0.48	0.11	0.02		-0.45	-0.07	-0.05	-0.27	0.02	T
A	-0.47	0.01	0.5	0.65	-0.45		-0.33	0.56	0.64	0.54	A
CRM	-0.41	-0.27	-0.45	-0.46	-0.07	-0.33		-0.26	-0.17	-0.06	CRM
JPM	-0.16	-0.02	0.73	0.64	-0.05	0.56	-0.26		0.21	0.84	JPM
MRK	-0.45	-0.12	0.36	0.61	-0.27	0.64	-0.17	0.21		0.27	MRK
XOM	-0.24	-0.27	0.64	0.61	0.02	0.54	-0.06	0.84	0.27		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

XOM	+ 0.84	JPM
F	+ 0.79	UBER
JPM	+ 0.73	UBER
A	+ 0.65	F
T	+ 0.64	META
XOM	+ 0.64	UBER

High negative correlations

T	- 0.48	MSFT
A	- 0.47	META
CRM	- 0.46	F
A	- 0.45	T
CRM	- 0.45	UBER
MRK	- 0.45	META

ETRACS Monthly Competition Risk-Adjusted Indicators

There is a big difference between ETRACS Etf performing well and ETRACS Monthly 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 ETRACS Monthly'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
META	1.30	0.05	(0.02)	(0.03)	1.48	(1.48)	2.18	(2.32)	15.10
MSFT	0.75	(0.02)	(0.05)	0.01	0.97	(0.74)	1.86	(1.64)	6.50
UBER	1.40	0.00	(0.01)	0.05	1.95	(1.33)	3.62	(3.30)	8.86
F	1.13	0.06	0.04	0.10	1.51	(1.20)	2.98	(1.83)	9.82
T	0.84	(0.02)	0.00	0.66	0.00	0.00	1.82	(2.30)	6.47
A	1.41	0.39	0.23	(1.65)	1.03	(1.64)	3.82	(2.15)	10.46
CRM	1.47	(0.13)	0.00	(0.11)	0.00	0.00	2.76	(3.33)	8.74
JPM	0.81	(0.01)	(0.01)	0.04	1.13	(0.80)	1.69	(1.91)	4.93
MRK	1.27	0.04	0.02	0.09	1.31	(1.44)	2.91	(2.36)	9.11
XOM	0.92	(0.01)	(0.02)	0.03	1.38	(0.83)	1.72	(2.42)	4.70

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