IncomeShares AMD Correlations

AMDI Etf

2,532 85.25 3.48%

The current 90-days correlation between IncomeShares AMD Options and SPDR SP Materials is 0.38 (i.e., Weak diversification). The correlation of IncomeShares AMD 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.

IncomeShares AMD Correlation With Market

Good diversification

The correlation between IncomeShares AMD Options and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IncomeShares AMD Options and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IncomeShares AMD could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IncomeShares AMD when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IncomeShares AMD - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling IncomeShares AMD Options to buy it.

Moving against IncomeShares Etf

0.65	MUNI	Invesco Municipal Bond	Pair Corr
0.59	COWZ	Pacer Cash Cows	Pair Corr
0.58	IDIN	iShares Global Infra	Pair Corr
0.51	SGQD	Lyxor SG Global	Pair Corr
0.48	GOUD	Lyxor Core Global	Pair Corr
0.47	IDJP	iShares MSCI Japan	Pair Corr
0.47	MLPS	Invesco Morningstar	Pair Corr
0.46	UIND	First Trust Equity	Pair Corr
0.44	OIGB	Vaneck Ucits Etfs	Pair Corr
0.42	VEVE	Vanguard FTSE Developed	Pair Corr
0.37	WNDU	SPDR MSCI World	Pair Corr
0.37	FTWG	Invesco FTSE All	Pair Corr
0.37	KOR3	Leverage Shares 3x	Pair Corr
0.36	FLXU	Franklin LibertyQ Equity	Pair Corr
0.35	CSH2	Multi Units Luxembourg	Pair Corr
0.33	SDG9	Xtrackers MSCI Global	Pair Corr
0.6	FSEM	Fidelity Sustainable USD	Pair Corr
0.54	MTIX	Lyxor UCITS EuroMTS	Pair Corr
0.49	GXLE	SPDR SP Energy	Pair Corr
0.43	DJMC	iShares EURO STOXX	Pair Corr
0.42	100H	MULTI UNITS LUXEMBOURG	Pair Corr
0.4	UESD	iShares Ultrashort Bond	Pair Corr
0.38	3KOR	Leverage Shares 3x	Pair Corr
0.37	IGIL	iShares Global Inflation	Pair Corr
0.33	EUCO	SPDR Barclays Euro	Pair Corr
0.31	RIOL	Lyxor UCITS Brazil	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.09	-0.11	-0.05	0.14	-0.2	-0.05	0.11	-0.01	0.15	META
MSFT	-0.09		0.84	-0.59	-0.87	0.84	0.94	0.44	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.54	-0.77	0.87	0.77	0.27	-0.82	-0.83	UBER
F	-0.05	-0.59	-0.54		0.35	-0.46	-0.5	-0.19	0.64	0.59	F
T	0.14	-0.87	-0.77	0.35		-0.76	-0.85	-0.37	0.79	0.8	T
A	-0.2	0.84	0.87	-0.46	-0.76		0.75	0.44	-0.77	-0.86	A
CRM	-0.05	0.94	0.77	-0.5	-0.85	0.75		0.58	-0.86	-0.93	CRM
JPM	0.11	0.44	0.27	-0.19	-0.37	0.44	0.58		-0.29	-0.47	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.77	-0.86	-0.29		0.93	MRK
XOM	0.15	-0.95	-0.83	0.59	0.8	-0.86	-0.93	-0.47	0.93		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

CRM	+ 0.94	MSFT
XOM	+ 0.93	MRK
A	+ 0.87	UBER
UBER	+ 0.84	MSFT
A	+ 0.84	MSFT
XOM	+ 0.8	T

High negative correlations

XOM	- 0.95	MSFT
XOM	- 0.93	CRM
MRK	- 0.92	MSFT
T	- 0.87	MSFT
MRK	- 0.86	CRM
XOM	- 0.86	A

IncomeShares AMD Competition Risk-Adjusted Indicators

There is a big difference between IncomeShares Etf performing well and IncomeShares AMD 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 IncomeShares AMD'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	1.47	0.07	0.03	0.12	1.58	(1.57)	2.38	(2.81)	13.69
MSFT	1.33	(0.28)	0.00	(0.60)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.55	(0.17)	0.00	(0.34)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.03)	0.00	1.61	0.00	0.00	3.61	(2.59)	9.82
T	1.07	0.20	0.14	(0.72)	0.94	(1.26)	3.87	(1.76)	7.44
A	1.22	(0.40)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.78	(0.27)	0.00	(0.21)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.25	(0.09)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	8.17
MRK	1.20	0.21	0.13	0.55	1.27	(1.26)	2.54	(2.06)	7.10
XOM	1.34	0.41	0.26	3.02	1.14	(1.59)	2.90	(2.44)	6.83

IncomeShares AMD Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IncomeShares AMD etf to make a market-neutral strategy. Peer analysis of IncomeShares AMD could also be used in its relative valuation, which is a method of valuing IncomeShares AMD by comparing valuation metrics with similar companies.

Gabelli Merger Plus Maven Income And SANTANDER UK 10 Coor Service Management Franklin FTSE Brazil Surgical Science Sweden Mereo BioPharma Group iShares Dow Jones ETC on CMCI SPDR SP Materials American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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