DBX ETF Correlations

SNPD Etf

27.26 0.06 0.22%

The current 90-days correlation between DBX ETF Trust and Strategy Shares is 0.01 (i.e., Significant diversification). The correlation of DBX ETF 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.

DBX ETF Correlation With Market

Good diversification

The correlation between DBX ETF Trust and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DBX ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with DBX Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in DBX ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with DBX Etf

0.66	VOE	Vanguard Mid Cap	Pair Corr
0.94	SDY	SPDR SP Dividend	Pair Corr
0.9	IWS	iShares Russell Mid	Pair Corr
0.92	SPYD	SPDR Portfolio SP	Pair Corr
0.92	DON	WisdomTree MidCap	Pair Corr
0.91	PEY	Invesco High Yield	Pair Corr
0.9	PKW	Invesco BuyBack Achievers	Pair Corr
0.92	ONEY	SPDR Russell 1000	Pair Corr
0.77	BKUI	BNY Mellon ETF	Pair Corr
0.9	SPYV	SPDR Portfolio SP	Pair Corr
0.91	WTV	WisdomTree Trust	Pair Corr
0.68	GSJY	Goldman Sachs ActiveBeta	Pair Corr
0.62	ESGV	Vanguard ESG Stock	Pair Corr
0.64	IJT	iShares SP Small	Pair Corr
0.88	RXI	iShares Global Consumer	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.64	DD	Dupont De Nemours	Pair Corr
0.68	HD	Home Depot	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.85	0.57	0.65	0.56	0.32	-0.72	0.7	0.53	0.19	META
MSFT	0.85		0.55	0.68	0.27	0.24	-0.58	0.87	0.56	0.31	MSFT
UBER	0.57	0.55		0.87	0.48	0.6	-0.22	0.72	0.72	0.45	UBER
F	0.65	0.68	0.87		0.49	0.62	-0.41	0.82	0.84	0.58	F
T	0.56	0.27	0.48	0.49		0.48	-0.45	0.39	0.55	0.11	T
A	0.32	0.24	0.6	0.62	0.48		0.06	0.47	0.7	0.63	A
CRM	-0.72	-0.58	-0.22	-0.41	-0.45	0.06		-0.37	-0.35	0.04	CRM
JPM	0.7	0.87	0.72	0.82	0.39	0.47	-0.37		0.71	0.49	JPM
MRK	0.53	0.56	0.72	0.84	0.55	0.7	-0.35	0.71		0.62	MRK
XOM	0.19	0.31	0.45	0.58	0.11	0.63	0.04	0.49	0.62		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

JPM	+ 0.87	MSFT
F	+ 0.87	UBER
MSFT	+ 0.85	META
MRK	+ 0.84	F
JPM	+ 0.82	F
JPM	+ 0.72	UBER

High negative correlations

CRM	- 0.72	META
CRM	- 0.58	MSFT
CRM	- 0.45	T
CRM	- 0.41	F
JPM	- 0.37	CRM
MRK	- 0.35	CRM

DBX ETF Competition Risk-Adjusted Indicators

There is a big difference between DBX Etf performing well and DBX ETF 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 DBX ETF'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	1.37	0.12	0.08	0.25	1.18	(1.68)	3.16	(2.27)	14.28
MSFT	0.68	0.11	0.05	0.43	0.58	(0.78)	1.58	(1.42)	5.71
UBER	1.40	0.03	(0.01)	0.16	1.65	(1.47)	2.72	(2.30)	11.37
F	1.26	0.10	0.07	0.19	1.49	(1.25)	2.55	(2.36)	7.46
T	0.78	0.09	(0.01)	1.05	0.91	(0.80)	1.75	(1.96)	5.41
A	1.41	0.01	0.05	0.12	1.61	(1.49)	3.24	(2.46)	9.19
CRM	1.24	(0.25)	0.00	(0.09)	0.00	0.00	2.63	(3.19)	6.27
JPM	0.79	0.09	0.09	0.21	0.84	(0.87)	1.78	(1.36)	5.19
MRK	1.16	0.06	0.03	0.17	1.41	(1.15)	2.90	(2.36)	7.79
XOM	0.97	0.18	0.05	4.22	1.23	(1.01)	2.14	(2.07)	6.25

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