Roundhill Magnificent Correlations

MAGS Etf

USD 64.33 0.66 1.04%

The current 90-days correlation between Roundhill Magnificent and SPDR SP Metals is 0.35 (i.e., Weak diversification). The correlation of Roundhill Magnificent 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.

Roundhill Magnificent Correlation With Market

Good diversification

The correlation between Roundhill Magnificent Seven and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Magnificent Seven and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Roundhill Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Roundhill Magnificent Seven. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Roundhill Etf

0.94	VGT	Vanguard Information	Pair Corr
0.91	XLK	Technology Select Sector	Pair Corr
0.95	IYW	iShares Technology ETF	Pair Corr
0.87	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	SOXX	iShares Semiconductor ETF	Pair Corr
0.77	CIBR	First Trust NASDAQ	Pair Corr
0.94	FTEC	Fidelity MSCI Information	Pair Corr
0.68	IGV	iShares Expanded Tech	Pair Corr
0.85	FDN	First Trust Dow	Pair Corr
0.97	IGM	iShares Expanded Tech	Pair Corr
0.91	WSML	iShares MSCI World	Pair Corr
0.93	PULS	PGIM Ultra Short	Pair Corr
0.97	CPSR	Calamos SP 500	Pair Corr
0.97	LCAP	Principal Capital	Pair Corr
0.97	PJUN	Innovator SP 500	Pair Corr
0.69	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.87	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.79	JPM	JPMorgan Chase	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.67	WMT	Walmart	Pair Corr

Moving against Roundhill Etf

0.84	JEM	707 Cayman Holdings	Pair Corr
0.69	SWIN	Alps Symbol Change	Pair Corr
0.72	KO	Coca Cola Earnings Call This Week	Pair Corr
0.31	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.11	0.04	-0.19	0.64	-0.47	-0.4	-0.16	-0.45	-0.24	META
MSFT	0.11		-0.2	-0.16	-0.48	0.01	-0.33	-0.02	-0.12	-0.27	MSFT
UBER	0.04	-0.2		0.77	0.18	0.48	-0.42	0.67	0.33	0.57	UBER
F	-0.19	-0.16	0.77		0.02	0.65	-0.37	0.64	0.61	0.61	F
T	0.64	-0.48	0.18	0.02		-0.45	-0.01	-0.05	-0.27	0.02	T
A	-0.47	0.01	0.48	0.65	-0.45		-0.32	0.56	0.64	0.54	A
CRM	-0.4	-0.33	-0.42	-0.37	-0.01	-0.32		-0.23	-0.08	-0.04	CRM
JPM	-0.16	-0.02	0.67	0.64	-0.05	0.56	-0.23		0.21	0.84	JPM
MRK	-0.45	-0.12	0.33	0.61	-0.27	0.64	-0.08	0.21		0.27	MRK
XOM	-0.24	-0.27	0.57	0.61	0.02	0.54	-0.04	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	+ 0.77	UBER
JPM	+ 0.67	UBER
A	+ 0.65	F
T	+ 0.64	META
JPM	+ 0.64	F

High negative correlations

T	- 0.48	MSFT
A	- 0.47	META
A	- 0.45	T
MRK	- 0.45	META
CRM	- 0.42	UBER
CRM	- 0.4	META

Roundhill Magnificent Competition Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill Magnificent 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 Roundhill Magnificent'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	1.42	0.03	(0.01)	(0.64)	1.92	(1.39)	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	1.48	(0.09)	0.00	0.36	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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