Breakwave Dry Correlations

BDRY Etf

USD 7.41 0.04 0.54%

The current 90-days correlation between Breakwave Dry Bulk and SonicShares Global Shipping is -0.05 (i.e., Good diversification). The correlation of Breakwave Dry 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.

Breakwave Dry Correlation With Market

Average diversification

The correlation between Breakwave Dry Bulk and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Breakwave Dry Bulk and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Breakwave Dry Bulk. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Breakwave Etf

0.66	EWU	iShares MSCI United	Pair Corr
0.62	EWL	iShares MSCI Switzerland	Pair Corr
0.66	EWQ	iShares MSCI France	Pair Corr
0.84	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.62	VEA	Vanguard FTSE Developed	Pair Corr
0.8	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.76	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Breakwave Etf

0.74	VUG	Vanguard Growth Index	Pair Corr
0.71	VTI	Vanguard Total Stock	Pair Corr
0.71	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.71	IVV	iShares Core SP	Pair Corr
0.71	VO	Vanguard Mid Cap	Pair Corr
0.67	VB	Vanguard Small Cap	Pair Corr
0.65	BBCA	JPMorgan BetaBuilders	Pair Corr
0.62	VTV	Vanguard Value Index	Pair Corr
0.57	EWC	iShares MSCI Canada	Pair Corr
0.81	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.79	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.73	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.71	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.57	T	ATT Inc Sell-off Trend	Pair Corr
0.54	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.52	HD	Home Depot	Pair Corr
0.51	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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

JPM	+ 0.85	CRM
CRM	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	META

Breakwave Dry Constituents Risk-Adjusted Indicators

There is a big difference between Breakwave Etf performing well and Breakwave Dry 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 Breakwave Dry'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	1.06	0.06	0.02	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

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