Cabana Target Correlations

TDSC Etf

USD 24.92 0.23 0.91%

The current 90-days correlation between Cabana Target Drawdown and VanEck Low Carbon is 0.65 (i.e., Poor 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 poor diversification

The correlation between Cabana Target Drawdown and DJI is 0.82 (i.e., Very poor 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

0.76	YYY	Amplify High Income	Pair Corr
0.79	FVC	First Trust Dorsey	Pair Corr
0.75	TDSB	Cabana Target Drawdown	Pair Corr
0.82	GMOM	Cambria Global Momentum	Pair Corr
0.72	AGOX	Adaptive Alpha Oppor	Pair Corr
0.86	TACK	Fairlead Tactical Sector	Pair Corr
0.84	DALI	First Trust Dorsey	Pair Corr
0.74	MUU	Direxion Daily MU Buyout Trend	Pair Corr
0.73	KORU	Direxion Daily South	Pair Corr
0.8	RVNU	Xtrackers Municipal	Pair Corr
0.78	VGT	Vanguard Information	Pair Corr
0.67	SGDJ	Sprott Junior Gold	Pair Corr
0.84	IJR	iShares Core SP Sell-off Trend	Pair Corr
0.84	YFYA	Listed Funds Trust	Pair Corr
0.79	XCEM	Columbia EM Core	Pair Corr
0.82	AXP	American Express	Pair Corr
0.78	IBM	International Business	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr
0.84	GE	GE Aerospace	Pair Corr
0.86	BAC	Bank of America	Pair Corr
0.67	INTC	Intel	Pair Corr

Moving against Cabana Etf

0.39	WTID	UBS ETRACS Upward Rally	Pair Corr
0.54	VZ	Verizon Communications Aggressive Push	Pair Corr
0.46	PG	Procter Gamble	Pair Corr
0.43	DIS	Walt Disney	Pair Corr
0.35	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	SMOG	BLES	HIDV	RFDI	CHGX	PSTP	VSMV	IOCT	EMMF	LEXI
SMOG		0.81	0.78	0.79	0.79	0.89	0.89	0.83	0.96	0.95	SMOG
BLES	0.81		0.89	0.86	0.86	0.9	0.9	0.91	0.88	0.88	BLES
HIDV	0.78	0.89		0.85	0.75	0.94	0.88	0.79	0.88	0.87	HIDV
RFDI	0.79	0.86	0.85		0.62	0.82	0.78	0.89	0.87	0.8	RFDI
CHGX	0.79	0.86	0.75	0.62		0.86	0.89	0.84	0.8	0.88	CHGX
PSTP	0.89	0.9	0.94	0.82	0.86		0.95	0.86	0.96	0.97	PSTP
VSMV	0.89	0.9	0.88	0.78	0.89	0.95		0.86	0.93	0.96	VSMV
IOCT	0.83	0.91	0.79	0.89	0.84	0.86	0.86		0.88	0.88	IOCT
EMMF	0.96	0.88	0.88	0.87	0.8	0.96	0.93	0.88		0.97	EMMF
LEXI	0.95	0.88	0.87	0.8	0.88	0.97	0.96	0.88	0.97		LEXI
	SMOG	BLES	HIDV	RFDI	CHGX	PSTP	VSMV	IOCT	EMMF	LEXI

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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
SMOG	0.93	0.13	0.12	0.18	0.95	(1.00)	2.35	(1.98)	6.40
BLES	0.52	(0.02)	(0.05)	0.04	0.68	(0.53)	0.95	(1.10)	4.12
HIDV	0.48	(0.02)	(0.04)	0.04	0.66	(0.49)	1.15	(1.04)	4.60
RFDI	0.48	0.00	(0.02)	0.07	0.59	(0.49)	1.10	(1.12)	3.10
CHGX	0.58	(0.05)	(0.07)	0.01	0.81	(0.55)	1.26	(1.18)	3.67
PSTP	0.23	(0.01)	(0.15)	0.03	0.30	(0.24)	0.49	(0.44)	1.83
VSMV	0.43	0.03	0.03	0.11	0.39	(0.46)	1.11	(0.79)	2.97
IOCT	0.36	0.00	(0.08)	0.06	0.38	(0.39)	0.74	(0.71)	2.21
EMMF	0.54	0.05	0.04	0.13	0.63	(0.58)	1.15	(0.94)	4.35
LEXI	0.42	0.02	0.00	0.10	0.47	(0.43)	1.00	(0.85)	2.89

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