AltShares Trust Correlations

ARB Etf

USD 29.13 0.14 0.48%

The current 90-days correlation between AltShares Trust and SPDR MSCI Emerging is 0.1 (i.e., Average diversification). The correlation of AltShares Trust 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.

AltShares Trust Correlation With Market

Poor diversification

The correlation between AltShares Trust and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AltShares Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AltShares Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AltShares 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 real.

Moving together with AltShares Etf

0.86	MNA	IQ Merger Arbitrage	Pair Corr
0.77	MARB	First Trust Vivaldi	Pair Corr
0.84	CEFS	Saba Closed End	Pair Corr
0.83	EVNT	AltShares Event Driven	Pair Corr
0.73	DFEN	Direxion Daily Aerospace	Pair Corr
0.78	DGP	DB Gold Double	Pair Corr
0.74	UGL	ProShares Ultra Gold	Pair Corr
0.76	NUGT	Direxion Daily Gold	Pair Corr
0.79	DIG	ProShares Ultra Oil	Pair Corr
0.77	MLPR	ETRACS Quarterly Pay	Pair Corr
0.86	DUSL	Direxion Daily Indus	Pair Corr
0.85	SEA	US Global Sea	Pair Corr
0.87	ESGD	iShares ESG Aware	Pair Corr
0.82	FEM	First Trust Emerging	Pair Corr
0.86	AVUV	Avantis Small Cap	Pair Corr
0.75	ITA	iShares Aerospace Defense	Pair Corr
0.74	BND	Vanguard Total Bond	Pair Corr
0.82	EAFG	Pacer Funds Trust	Pair Corr
0.77	IAU	iShares Gold Trust Aggressive Push	Pair Corr
0.86	IXUS	iShares Core MSCI Sell-off Trend	Pair Corr
0.85	AVDS	Avantis International	Pair Corr
0.78	EPU	iShares MSCI Peru	Pair Corr
0.87	FNDF	Schwab Fundamental	Pair Corr
0.67	COMB	GraniteShares Bloomberg	Pair Corr
0.8	FIEE	FiEE Inc Symbol Change	Pair Corr
0.68	USO	United States Oil	Pair Corr
0.8	AUMI	Themes Gold Miners	Pair Corr
0.68	LQIG	SPDR MarketAxess Inv	Pair Corr
0.88	ILOW	AB Active ETFs	Pair Corr
0.74	JETS	US Global Jets	Pair Corr
0.82	EMIF	iShares Emerging Markets	Pair Corr
0.66	BIB	ProShares Ultra Nasdaq	Pair Corr
0.82	IEMG	iShares Core MSCI Sell-off Trend	Pair Corr

Moving against AltShares Etf

0.77

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	EPRF	XC	INCE	FCLD	TYA	TAXE	HERD	DVOL	SNOY	EEMX
EPRF		0.22	0.13	0.49	-0.58	0.07	0.19	0.18	0.0	0.19	EPRF
XC	0.22		0.95	-0.44	-0.04	0.92	0.95	0.9	-0.82	0.97	XC
INCE	0.13	0.95		-0.6	0.1	0.97	0.98	0.94	-0.93	0.96	INCE
FCLD	0.49	-0.44	-0.6		-0.45	-0.62	-0.51	-0.53	0.7	-0.48	FCLD
TYA	-0.58	-0.04	0.1	-0.45		0.25	0.1	0.11	-0.09	0.07	TYA
TAXE	0.07	0.92	0.97	-0.62	0.25		0.96	0.91	-0.9	0.96	TAXE
HERD	0.19	0.95	0.98	-0.51	0.1	0.96		0.95	-0.9	0.96	HERD
DVOL	0.18	0.9	0.94	-0.53	0.11	0.91	0.95		-0.85	0.9	DVOL
SNOY	0.0	-0.82	-0.93	0.7	-0.09	-0.9	-0.9	-0.85		-0.84	SNOY
EEMX	0.19	0.97	0.96	-0.48	0.07	0.96	0.96	0.9	-0.84		EEMX
	EPRF	XC	INCE	FCLD	TYA	TAXE	HERD	DVOL	SNOY	EEMX

Please upgrade your account to get full access to Macroaxis premium features

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

HERD	+ 0.98	INCE
EEMX	+ 0.97	XC
TAXE	+ 0.97	INCE
EEMX	+ 0.96	INCE
HERD	+ 0.96	TAXE
EEMX	+ 0.96	TAXE

High negative correlations

SNOY	- 0.93	INCE
SNOY	- 0.9	HERD
SNOY	- 0.9	TAXE
SNOY	- 0.85	DVOL
EEMX	- 0.84	SNOY
SNOY	- 0.82	XC

AltShares Trust Constituents Risk-Adjusted Indicators

There is a big difference between AltShares Etf performing well and AltShares Trust 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 AltShares Trust'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
EPRF	0.34	(0.03)	(0.17)	(0.01)	0.43	(0.36)	0.58	(0.80)	2.23
XC	0.59	0.07	0.05	0.21	0.51	(0.67)	1.41	(0.99)	3.14
INCE	0.38	0.17	0.26	0.47	0.00	(0.45)	1.08	(0.71)	2.16
FCLD	1.42	(0.12)	0.00	(0.02)	0.00	0.00	2.47	(3.14)	8.72
TYA	0.50	0.03	(0.09)	(0.34)	0.53	(0.57)	1.02	(0.90)	2.48
TAXE	0.07	0.03	(0.56)	6.60	0.00	(0.09)	0.17	(0.10)	0.51
HERD	0.47	0.14	0.18	0.29	0.21	(0.55)	1.30	(0.85)	3.60
DVOL	0.58	0.04	0.03	0.14	0.62	(0.61)	1.26	(0.97)	3.76
SNOY	2.26	(0.55)	0.00	(0.22)	0.00	0.00	3.27	(6.10)	15.08
EEMX	0.75	0.21	0.23	0.38	0.46	(0.85)	2.00	(1.19)	4.63

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC