Etf Opportunities Correlations

Etfs . USA . 
Etf . Etf Opportunities Trust
AAPX Etf   34.44  0.46  1.35%   
The correlation of Etf Opportunities 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.

Etf Opportunities Correlation With Market

Modest diversification

The correlation between Etf Opportunities Trust and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Etf Opportunities Trust and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Etf Opportunities 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 american community survey.

Related Correlations Analysis

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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
+ 0.85
CRM
CRM
+ 0.77
T
XOM
+ 0.71
META
JPM
+ 0.67
F
XOM
+ 0.66
CRM
CRM
+ 0.65
META
  
High negative correlations   
MRK
- 0.92
CRM
MRK
- 0.83
JPM
MRK
- 0.78
T
JPM
- 0.64
A
XOM
- 0.56
MRK
MRK
- 0.54
META

Etf Opportunities Competition Risk-Adjusted Indicators

There is a big difference between Etf Etf performing well and Etf Opportunities 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 Etf Opportunities' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.06  0.06  0.02  0.21  1.39 
(1.15)
 2.62 
(3.15)
 8.02 
MSFT  0.90 (0.03)(0.04) 0.07  1.49 
(0.86)
 2.09 
(1.85)
 8.19 
UBER  1.62 (0.13)(0.05) 0.00  2.26 
(1.79)
 2.69 
(2.53)
 20.10 
F  1.43 (0.15)(0.04) 0.02  2.24 
(1.39)
 2.53 
(2.90)
 11.21 
T  0.92  0.26  0.12 (9.48) 0.86 
(1.06)
 2.56 
(1.72)
 6.47 
A  1.14 (0.13) 0.00 (0.12) 0.00 
 0.00 
 2.29 
(2.42)
 9.02 
CRM  1.29  0.26  0.22  0.36  0.91 
(1.53)
 3.18 
(1.91)
 9.09 
JPM  1.12 (0.01) 0.06  0.12  1.42 
(1.19)
 2.05 
(2.00)
 15.87 
MRK  0.89 (0.23) 0.00 (0.76) 0.00 
 0.00 
 2.00 
(2.13)
 4.89 
XOM  1.02 (0.06)(0.09) 0.00  1.34 
(1.07)
 2.10 
(2.09)
 5.74 

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