Legal General Correlations

AUCP Etf

3,344 3.00 0.09%

The current 90-days correlation between Legal General UCITS and GraniteShares 3x Short is -0.29 (i.e., Very good diversification). The correlation of Legal General 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.

Legal General Correlation With Market

Good diversification

The correlation between Legal General UCITS and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Legal General UCITS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Legal General could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Legal General 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 Legal General - 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 Legal General UCITS to buy it.

Moving together with Legal Etf

0.88

3LSI

WisdomTree Silver

Pair Corr

Moving against Legal Etf

0.51	3SVP	GraniteShares 3x Short	Pair Corr
0.38	3ULS	WisdomTree SP 500	Pair Corr

Related Correlations Analysis

	3SVP	NGSP	3PLT	3LGS	3ULS	3SME	3LSI	3PYE	3FTE	3FNE
3SVP		0.06	-0.67	-0.1	0.89	0.07	-0.55	-0.83	-0.75	-0.87	3SVP
NGSP	0.06		0.13	-0.98	-0.1	-0.12	-0.12	0.2	0.17	0.05	NGSP
3PLT	-0.67	0.13		-0.12	-0.71	0.14	-0.08	0.88	0.95	0.88	3PLT
3LGS	-0.1	-0.98	-0.12		0.11	0.19	0.16	-0.19	-0.15	-0.03	3LGS
3ULS	0.89	-0.1	-0.71	0.11		0.27	-0.39	-0.88	-0.8	-0.88	3ULS
3SME	0.07	-0.12	0.14	0.19	0.27		-0.32	0.03	0.04	-0.01	3SME
3LSI	-0.55	-0.12	-0.08	0.16	-0.39	-0.32		0.22	0.07	0.28	3LSI
3PYE	-0.83	0.2	0.88	-0.19	-0.88	0.03	0.22		0.91	0.92	3PYE
3FTE	-0.75	0.17	0.95	-0.15	-0.8	0.04	0.07	0.91		0.96	3FTE
3FNE	-0.87	0.05	0.88	-0.03	-0.88	-0.01	0.28	0.92	0.96		3FNE
	3SVP	NGSP	3PLT	3LGS	3ULS	3SME	3LSI	3PYE	3FTE	3FNE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

3FNE	+ 0.96	3FTE
3FTE	+ 0.95	3PLT
3FNE	+ 0.92	3PYE
3FTE	+ 0.91	3PYE
3ULS	+ 0.89	3SVP
3PYE	+ 0.88	3PLT

High negative correlations

3LGS	- 0.98	NGSP
3FNE	- 0.88	3ULS
3PYE	- 0.88	3ULS
3FNE	- 0.87	3SVP
3PYE	- 0.83	3SVP
3FTE	- 0.8	3ULS

Legal General Constituents Risk-Adjusted Indicators

There is a big difference between Legal Etf performing well and Legal General 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 Legal General'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
3SVP	6.32	(0.72)	0.00	1.43	0.00	0.00	13.05	(12.16)	46.63
NGSP	2.30	0.14	0.01	2.29	2.70	(2.40)	6.05	(4.16)	15.34
3PLT	8.24	4.01	0.49	(1.57)	5.81	(10.23)	20.13	(10.82)	76.95
3LGS	6.41	(0.06)	0.00	1.64	0.00	0.00	11.74	(17.62)	52.63
3ULS	1.69	(0.15)	0.00	0.30	0.00	0.00	3.75	(4.09)	13.06
3SME	2.94	0.15	(0.03)	0.00	4.00	(2.79)	5.63	(6.76)	27.04
3LSI	4.15	0.32	0.03	(1.60)	5.68	(3.90)	9.27	(9.61)	25.70
3PYE	3.98	0.92	0.14	(3.54)	4.82	(4.21)	9.54	(9.11)	28.97
3FTE	2.89	0.69	0.23	0.66	2.34	(3.41)	8.12	(4.45)	17.46
3FNE	2.46	0.40	0.14	0.41	2.46	(2.69)	7.06	(3.35)	18.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in Legal General without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Rebalancing Now

Portfolio Rebalancing

Analyze risk-adjusted returns against different time horizons to find asset-allocation targets

All Next

Launch Module

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

2024 Macroaxis LLC