Argent Mid Correlations

AMID Etf

USD 34.53 0.64 1.82%

The current 90-days correlation between Argent Mid Cap and AIM ETF Products is 0.81 (i.e., Very poor diversification). The correlation of Argent Mid 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.

Argent Mid Correlation With Market

Very poor diversification

The correlation between Argent Mid Cap 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 Argent Mid Cap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Argent Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Argent Mid Cap. 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 Argent Etf

0.88	VO	Vanguard Mid Cap	Pair Corr
0.89	VXF	Vanguard Extended Market	Pair Corr
0.83	IJH	iShares Core SP	Pair Corr
0.87	IWR	iShares Russell Mid	Pair Corr
0.83	MDY	SPDR SP MIDCAP	Pair Corr
0.82	FV	First Trust Dorsey	Pair Corr
0.83	IVOO	Vanguard SP Mid	Pair Corr
0.81	JHMM	John Hancock Multifactor	Pair Corr
0.92	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.81	XMMO	Invesco SP MidCap	Pair Corr
0.68	USD	ProShares Ultra Semi	Pair Corr
0.79	SMH	VanEck Semiconductor ETF	Pair Corr
0.77	UPRO	ProShares UltraPro SP500	Pair Corr
0.77	SPXL	Direxion Daily SP500	Pair Corr
0.79	SOXX	iShares Semiconductor ETF	Pair Corr
0.78	PSI	Invesco Dynamic Semi	Pair Corr
0.7	BINC	BlackRock ETF Trust	Pair Corr
0.66	RDIV	Invesco SP Ultra	Pair Corr
0.8	OASC	OneAscent Small Cap	Pair Corr
0.7	AHYB	American Century ETF	Pair Corr
0.89	VBK	Vanguard Small Cap	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.69	HD	Home Depot Sell-off Trend	Pair Corr
0.72	INTC	Intel	Pair Corr
0.75	BA	Boeing	Pair Corr

Moving against Argent Etf

0.48	HPQ	HP Inc	Pair Corr
0.4	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	SPUC	FFND	FEBW	KURE	ALTL	RSPR	UPGD	RAYD	YSEP	SIXO
SPUC		0.9	0.83	0.02	0.78	0.49	0.76	-0.34	0.76	0.94	SPUC
FFND	0.9		0.87	0.11	0.86	0.69	0.89	-0.26	0.9	0.96	FFND
FEBW	0.83	0.87		-0.15	0.59	0.38	0.72	-0.15	0.65	0.89	FEBW
KURE	0.02	0.11	-0.15		0.08	0.28	0.03	-0.46	0.05	-0.07	KURE
ALTL	0.78	0.86	0.59	0.08		0.78	0.92	0.0	0.91	0.87	ALTL
RSPR	0.49	0.69	0.38	0.28	0.78		0.79	0.04	0.82	0.63	RSPR
UPGD	0.76	0.89	0.72	0.03	0.92	0.79		-0.03	0.95	0.9	UPGD
RAYD	-0.34	-0.26	-0.15	-0.46	0.0	0.04	-0.03		0.0	-0.2	RAYD
YSEP	0.76	0.9	0.65	0.05	0.91	0.82	0.95	0.0		0.9	YSEP
SIXO	0.94	0.96	0.89	-0.07	0.87	0.63	0.9	-0.2	0.9		SIXO
	SPUC	FFND	FEBW	KURE	ALTL	RSPR	UPGD	RAYD	YSEP	SIXO

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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

SIXO	+ 0.96	FFND
YSEP	+ 0.95	UPGD
SIXO	+ 0.94	SPUC
UPGD	+ 0.92	ALTL
YSEP	+ 0.91	ALTL
FFND	+ 0.9	SPUC

High negative correlations

RAYD	- 0.46	KURE
RAYD	- 0.34	SPUC
RAYD	- 0.26	FFND
SIXO	- 0.2	RAYD
RAYD	- 0.15	FEBW
KURE	- 0.15	FEBW

Argent Mid Constituents Risk-Adjusted Indicators

There is a big difference between Argent Etf performing well and Argent Mid 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 Argent Mid'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
SPUC	0.85	(0.06)	(0.05)	0.01	1.32	(0.76)	1.49	(2.28)	5.18
FFND	0.59	(0.02)	(0.05)	0.05	0.69	(0.65)	1.20	(1.47)	3.35
FEBW	0.18	0.01	(0.14)	0.09	0.21	(0.18)	0.42	(0.47)	1.16
KURE	1.02	0.00	(0.04)	0.07	1.27	(1.08)	2.21	(2.09)	7.50
ALTL	0.81	0.04	0.02	0.13	1.07	(0.88)	1.87	(2.24)	4.80
RSPR	0.66	0.04	0.00	0.16	0.61	(0.80)	1.52	(1.31)	3.03
UPGD	0.65	0.08	0.09	0.19	0.53	(0.73)	1.68	(1.21)	4.16
RAYD	0.72	0.01	(0.05)	0.13	0.89	(0.83)	1.94	(1.15)	7.93
YSEP	0.33	0.05	0.00	0.21	0.25	(0.38)	0.67	(0.71)	1.87
SIXO	0.31	0.00	(0.11)	0.06	0.38	(0.30)	0.54	(0.72)	2.09

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