Cabana Target Correlations

TDSB Etf

USD 23.84 0.08 0.34%

The current 90-days correlation between Cabana Target Drawdown and ETF Opportunities Trust is 0.59 (i.e., Very weak diversification). The correlation of Cabana Target 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.

Cabana Target Correlation With Market

Very weak diversification

The correlation between Cabana Target Drawdown and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cabana Target Drawdown and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cabana Etf

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

Moving together with Cabana Etf

0.91	GMOM	Cambria Global Momentum	Pair Corr
0.76	TACK	Fairlead Tactical Sector	Pair Corr
0.74	UPRO	ProShares UltraPro SP500	Pair Corr
0.9	QTJA	Innovator ETFs Trust	Pair Corr
0.85	QTAP	Innovator Growth 100	Pair Corr
0.89	XTJA	Innovator ETFs Trust	Pair Corr
0.85	XTAP	Innovator Equity Acc	Pair Corr
0.86	IXN	iShares Global Tech	Pair Corr
0.71	EQTYX	WisdomTree Siegel Global	Pair Corr
0.71	BKLN	Invesco Senior Loan	Pair Corr
0.61	GOP	Unusual Whales Subversive Symbol Change	Pair Corr
0.8	ESGE	iShares ESG Aware	Pair Corr
0.9	PPI	Investment Managers	Pair Corr
0.74	QQQ	Invesco QQQ Trust	Pair Corr
0.89	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.78	WIA	Western AssetClaymore	Pair Corr
0.94	RAAX	VanEck Inflation All	Pair Corr
0.82	HLAL	Wahed FTSE USA	Pair Corr
0.7	VOO	Vanguard SP 500	Pair Corr
0.73	VGT	Vanguard Information	Pair Corr
0.96	GLTR	abrdn Physical Precious	Pair Corr
0.78	FEMR	Fidelity Covington Trust	Pair Corr
0.7	NMAY	Innovator Growth 100	Pair Corr
0.78	MUNC	Northern Funds	Pair Corr
0.75	SGDJ	Sprott Junior Gold	Pair Corr
0.72	VYMI	Vanguard International	Pair Corr
0.91	EMOP	AB Active ETFs,	Pair Corr
0.93	TAXT	Northern Trust Tax	Pair Corr
0.91	ICLN	iShares Global Clean Sell-off Trend	Pair Corr

Related Correlations Analysis

	WLTG	DYTA	IGTR	LEAD	JUNM	CSRE	NVBW	UMAY	JUNW	SXQG
WLTG		0.9	0.96	0.86	0.94	0.23	0.95	0.94	0.96	0.26	WLTG
DYTA	0.9		0.83	0.66	0.97	0.27	0.91	0.93	0.94	0.0	DYTA
IGTR	0.96	0.83		0.91	0.88	0.24	0.95	0.88	0.91	0.4	IGTR
LEAD	0.86	0.66	0.91		0.73	0.32	0.83	0.74	0.8	0.59	LEAD
JUNM	0.94	0.97	0.88	0.73		0.26	0.94	0.97	0.98	0.07	JUNM
CSRE	0.23	0.27	0.24	0.32	0.26		0.24	0.31	0.31	0.27	CSRE
NVBW	0.95	0.91	0.95	0.83	0.94	0.24		0.92	0.95	0.29	NVBW
UMAY	0.94	0.93	0.88	0.74	0.97	0.31	0.92		0.98	0.14	UMAY
JUNW	0.96	0.94	0.91	0.8	0.98	0.31	0.95	0.98		0.19	JUNW
SXQG	0.26	0.0	0.4	0.59	0.07	0.27	0.29	0.14	0.19		SXQG
	WLTG	DYTA	IGTR	LEAD	JUNM	CSRE	NVBW	UMAY	JUNW	SXQG

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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

JUNW	+ 0.98	JUNM
JUNW	+ 0.98	UMAY
JUNM	+ 0.97	DYTA
UMAY	+ 0.97	JUNM
IGTR	+ 0.96	WLTG
JUNW	+ 0.96	WLTG

High negative correlations

SXQG

- 0.0

DYTA

Cabana Target Constituents Risk-Adjusted Indicators

There is a big difference between Cabana Etf performing well and Cabana Target 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 Cabana Target'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
WLTG	0.63	0.01	0.00	0.06	0.88	(0.66)	1.21	(1.50)	4.09
DYTA	0.18	0.02	(0.03)	0.11	0.05	(0.20)	0.48	(0.41)	1.13
IGTR	1.00	(0.04)	(0.02)	0.00	1.54	(0.98)	1.89	(2.84)	6.87
LEAD	0.66	(0.05)	0.00	(0.03)	0.00	0.00	1.21	(1.17)	4.51
JUNM	0.07	0.00	(0.33)	0.03	0.00	(0.08)	0.15	(0.15)	0.44
CSRE	0.59	(0.03)	(0.06)	(0.02)	0.90	(0.52)	1.29	(1.49)	3.71
NVBW	0.14	(0.01)	(0.14)	0.00	0.24	(0.13)	0.30	(0.42)	1.38
UMAY	0.15	0.00	(0.13)	0.03	0.22	(0.15)	0.34	(0.36)	1.31
JUNW	0.13	0.00	(0.15)	0.03	0.17	(0.12)	0.31	(0.24)	0.89
SXQG	0.47	(0.08)	0.00	(0.07)	0.00	0.00	0.98	(1.03)	2.64

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