BFIT Correlations
| BFIT Etf | USD 22.85 0.08 0.35% |
The current 90-days correlation between BFIT and Global X Conscious is -0.06 (i.e., Good diversification). The correlation of BFIT 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.
BFIT Correlation With Market
Significant diversification
The correlation between BFIT and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BFIT and DJI in the same portfolio, assuming nothing else is changed.
BFIT |
Moving against BFIT Etf
| 0.82 | KROP | Global X AgTech | PairCorr |
| 0.73 | IVEG | iShares Emergent Food | PairCorr |
| 0.59 | ARP | Advisors Inner Circle | PairCorr |
| 0.58 | GXTG | Global X Thematic | PairCorr |
| 0.54 | DHF | BNY Mellon High | PairCorr |
| 0.51 | PBD | Invesco Global Clean | PairCorr |
| 0.49 | IVH | IVH | PairCorr |
| 0.48 | CTEC | Global X CleanTech | PairCorr |
| 0.39 | PSP | Invesco Global Listed | PairCorr |
| 0.36 | GREI | Goldman Sachs Future | PairCorr |
| 0.33 | SAGP | Advisorsa Inner | PairCorr |
| 0.81 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.57 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.56 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.55 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.53 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.48 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.36 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.35 | T | ATT Inc Aggressive Push | PairCorr |
Related Correlations Analysis
| 0.92 | 0.94 | -0.6 | 0.78 | KRMA | ||
| 0.92 | 0.96 | -0.7 | 0.73 | CATH | ||
| 0.94 | 0.96 | -0.71 | 0.76 | MILN | ||
| -0.6 | -0.7 | -0.71 | -0.19 | EFAS | ||
| 0.78 | 0.73 | 0.76 | -0.19 | ALTY | ||
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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
| High negative correlations
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BFIT Constituents Risk-Adjusted Indicators
There is a big difference between BFIT Etf performing well and BFIT 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 BFIT'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| KRMA | 0.60 | (0.02) | (0.03) | 0.07 | 0.71 | 1.42 | 4.12 | |||
| CATH | 0.58 | 0.10 | 0.01 | (1.78) | 0.65 | 1.15 | 3.80 | |||
| MILN | 0.59 | 0.14 | 0.15 | 0.28 | 0.41 | 1.46 | 2.89 | |||
| EFAS | 0.70 | (0.07) | 0.00 | (0.30) | 0.00 | 1.26 | 4.48 | |||
| ALTY | 0.33 | 0.02 | (0.09) | 0.18 | 0.36 | 0.76 | 1.97 |
BFIT Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BFIT etf to make a market-neutral strategy. Peer analysis of BFIT could also be used in its relative valuation, which is a method of valuing BFIT by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |