SmartETFs Asia Correlations

ADIV Etf

USD 15.73 0.12 0.77%

The current 90-days correlation between SmartETFs Asia Pacific and SmartETFs Dividend Builder is 0.61 (i.e., Poor diversification). The correlation of SmartETFs Asia 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.

SmartETFs Asia Correlation With Market

Weak diversification

The correlation between SmartETFs Asia Pacific and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SmartETFs Asia Pacific 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 SmartETFs Asia Pacific. 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 SmartETFs Etf

0.8	AIA	iShares Asia 50	Pair Corr
0.61	GMF	SPDR SP Emerging	Pair Corr

Related Correlations Analysis

	DIVS	ADFI	AFIF	ADME	AGOX
DIVS		0.67	-0.28	0.44	0.58	DIVS
ADFI	0.67		-0.28	0.31	0.36	ADFI
AFIF	-0.28	-0.28		0.48	0.2	AFIF
ADME	0.44	0.31	0.48		0.86	ADME
AGOX	0.58	0.36	0.2	0.86		AGOX
	DIVS	ADFI	AFIF	ADME	AGOX

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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

AGOX	+ 0.86	ADME
ADFI	+ 0.67	DIVS
AGOX	+ 0.58	DIVS
ADME	+ 0.48	AFIF
ADME	+ 0.44	DIVS
AGOX	+ 0.36	ADFI

High negative correlations

AFIF	- 0.28	ADFI
AFIF	- 0.28	DIVS

SmartETFs Asia Constituents Risk-Adjusted Indicators

There is a big difference between SmartETFs Etf performing well and SmartETFs Asia 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 SmartETFs Asia'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
DIVS	0.52	(0.05)	0.00	(0.07)	0.00	0.00	0.89	(1.26)	3.42
ADFI	0.41	(0.01)	0.00	0.50	0.00	0.00	0.72	(0.82)	2.50
AFIF	0.11	0.01	(0.50)	4.18	0.00	(0.17)	0.22	(0.11)	0.76
ADME	0.54	0.01	(0.06)	0.11	0.77	(0.53)	1.22	(1.31)	4.34
AGOX	0.97	(0.01)	(0.04)	0.06	1.29	(0.98)	1.77	(2.28)	7.10

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