Abrdn Ultra Correlations

AMUN Etf

26.11 0.02 0.08%

The current 90-days correlation between abrdn Ultra Short and iShares Expanded Tech Software is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Abrdn Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if abrdn Ultra Short moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Abrdn Ultra Correlation With Market

Very poor diversification

The correlation between abrdn Ultra Short and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding abrdn Ultra Short and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Abrdn Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in abrdn Ultra Short. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Abrdn Etf

0.99	SUB	iShares Short Term	Pair Corr
0.98	SHM	SPDR Nuveen Bloomberg	Pair Corr
0.99	JMST	JPMorgan Ultra Short	Pair Corr
0.98	MEAR	iShares Short Maturity	Pair Corr
0.95	FSMB	First Trust Short	Pair Corr
0.95	SMB	VanEck Short Muni	Pair Corr
0.99	FUMB	First Trust Ultra	Pair Corr
0.65	PVI	Invesco VRDO Tax	Pair Corr
0.96	TAFI	Ab Tax Aware	Pair Corr
0.87	DFEN	Direxion Daily Aerospace	Pair Corr
0.91	DGP	DB Gold Double	Pair Corr
0.81	DIG	ProShares Ultra Oil	Pair Corr
0.89	UGL	ProShares Ultra Gold	Pair Corr
0.88	NUGT	Direxion Daily Gold	Pair Corr
0.84	MLPR	ETRACS Quarterly Pay	Pair Corr
0.93	DUSL	Direxion Daily Indus	Pair Corr
0.92	NBCE	Neuberger Berman ETF	Pair Corr
0.94	CHPS	Xtrackers Semiconductor	Pair Corr
0.96	EURL	Direxion Daily FTSE	Pair Corr
0.94	EDGI	Advisors Inner	Pair Corr
0.64	GOOX	Etf Opportunities Trust	Pair Corr
0.91	WDNA	WisdomTree BioRevolution	Pair Corr
0.96	TAXT	Northern Trust Tax	Pair Corr
0.94	JEPI	JPMorgan Equity Premium	Pair Corr
0.96	WLDR	Affinity World Leaders	Pair Corr
0.9	SCDV	ETF Series Solutions	Pair Corr
0.88	XAUG	FT Cboe Vest	Pair Corr
0.8	DOGG	First Trust Exchange	Pair Corr
0.95	GENW	Spinnaker ETF Series	Pair Corr
0.91	PFF	iShares Preferred	Pair Corr
0.92	IAUM	iShares Gold Trust	Pair Corr
0.91	UDI	USCF ETF Trust	Pair Corr
0.87	PSFD	Pacer Swan SOS	Pair Corr
0.86	QLV	FlexShares Quality Low	Pair Corr
0.93	GAPR	First Trust Exchange	Pair Corr

Moving against Abrdn Etf

0.86

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

Abrdn Ultra Competition Risk-Adjusted Indicators

There is a big difference between Abrdn Etf performing well and Abrdn Ultra 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 Abrdn Ultra'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	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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