Touchstone Strategic Correlations

SIO Etf

USD 25.96 0.08 0.31%

The current 90-days correlation between Touchstone Strategic and Iq Candriam ESG is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Touchstone Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Touchstone Strategic Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Touchstone Strategic Correlation With Market

Significant diversification

The correlation between Touchstone Strategic Income and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Strategic Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Touchstone Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Touchstone Strategic Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Touchstone Etf

0.71	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.73	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.7	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.77	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.8	JPIE	JP Morgan Exchange	Pair Corr
0.82	AFIF	Anfield Universal Fixed	Pair Corr
0.85	MUSI	American Century Mul	Pair Corr
0.81	WTMF	WisdomTree Managed	Pair Corr
0.68	EWC	iShares MSCI Canada	Pair Corr
0.76	IAUM	iShares Gold Trust	Pair Corr
0.86	SKOR	FlexShares Credit	Pair Corr
0.73	JEPI	JPMorgan Equity Premium	Pair Corr
0.84	USHY	iShares Broad USD	Pair Corr
0.72	EFA	iShares MSCI EAFE	Pair Corr
0.78	DYLG	Global X Funds	Pair Corr
0.8	FALN	iShares Fallen Angels	Pair Corr
0.75	GQI	Natixis ETF Trust	Pair Corr
0.79	DXUV	Dimensional ETF Trust	Pair Corr
0.83	FUSI	American Century ETF	Pair Corr
0.8	GAPR	First Trust Exchange	Pair Corr
0.63	BSMZ	Invesco BulletShares 2035	Pair Corr
0.73	PQJL	PGIM Nasdaq 100	Pair Corr
0.81	CEFZ	RiverNorth Active Income	Pair Corr
0.85	DDX	Defined Duration Symbol Change	Pair Corr
0.8	ESN	Essential 40 Stock	Pair Corr
0.7	PAPI	Morgan Stanley ETF	Pair Corr
0.7	KFEB	Innovator Small Cap	Pair Corr
0.75	SETM	Sprott Energy Transition	Pair Corr
0.67	XLI	Industrial Select Sector	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.23	-0.34	0.23	-0.14	0.52	-0.13	-0.34	-0.42	META
MSFT	0.6		0.75	-0.54	0.51	0.17	0.28	-0.34	-0.84	-0.74	MSFT
UBER	0.23	0.75		-0.49	0.41	0.35	-0.07	-0.52	-0.84	-0.51	UBER
F	-0.34	-0.54	-0.49		-0.68	-0.03	0.13	0.65	0.69	0.67	F
T	0.23	0.51	0.41	-0.68		0.45	-0.28	-0.52	-0.51	-0.65	T
A	-0.14	0.17	0.35	-0.03	0.45		-0.41	-0.25	-0.17	-0.24	A
CRM	0.52	0.28	-0.07	0.13	-0.28	-0.41		0.52	-0.02	-0.21	CRM
JPM	-0.13	-0.34	-0.52	0.65	-0.52	-0.25	0.52		0.56	0.36	JPM
MRK	-0.34	-0.84	-0.84	0.69	-0.51	-0.17	-0.02	0.56		0.77	MRK
XOM	-0.42	-0.74	-0.51	0.67	-0.65	-0.24	-0.21	0.36	0.77		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	+ 0.77	MRK
UBER	+ 0.75	MSFT
MRK	+ 0.69	F
XOM	+ 0.67	F
JPM	+ 0.65	F
MSFT	+ 0.6	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.84	MSFT
XOM	- 0.74	MSFT
T	- 0.68	F
XOM	- 0.65	T
F	- 0.54	MSFT

Touchstone Strategic Competition Risk-Adjusted Indicators

There is a big difference between Touchstone Etf performing well and Touchstone Strategic 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 Touchstone Strategic'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	1.35	(0.31)	0.00	(0.21)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.99	(0.25)	0.00	(0.57)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.47	(0.12)	0.00	0.29	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.13	0.12	0.18	1.32	(1.81)	3.69	(2.35)	16.30
T	0.88	(0.18)	0.00	(0.45)	0.00	0.00	1.53	(1.85)	4.30
A	1.19	(0.13)	(0.07)	(0.01)	1.46	(1.27)	2.90	(2.24)	7.85
CRM	1.55	(0.25)	0.00	(0.12)	0.00	0.00	3.59	(3.10)	12.37
JPM	1.12	(0.10)	(0.04)	0.02	1.67	(1.13)	2.00	(3.11)	7.38
MRK	1.22	0.37	0.26	0.56	1.02	(1.52)	3.59	(1.98)	8.09
XOM	1.08	0.29	0.17	2.95	0.97	(1.25)	2.38	(1.51)	5.82

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