ETF Series Correlations

BGIG Etf

29.83 0.26 0.88%

The current 90-days correlation between ETF Series Solutions and FT Vest Equity is 0.72 (i.e., Poor diversification). The correlation of ETF Series 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.

ETF Series Correlation With Market

Very weak diversification

The correlation between ETF Series Solutions and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETF Series Solutions 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 ETF Series Solutions. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with ETF Etf

0.89	VTV	Vanguard Value Index	Pair Corr
0.87	VYM	Vanguard High Dividend	Pair Corr
0.88	IWD	iShares Russell 1000	Pair Corr
0.91	DGRO	iShares Core Dividend	Pair Corr
0.86	IVE	iShares SP 500	Pair Corr
0.85	DVY	iShares Select Dividend	Pair Corr
0.86	SPYV	SPDR Portfolio SP	Pair Corr
0.85	FVD	First Trust Value	Pair Corr
0.86	IUSV	iShares Core SP	Pair Corr
0.8	NOBL	ProShares SP 500 Low Volatility	Pair Corr
0.72	UPRO	ProShares UltraPro SP500	Pair Corr
0.81	QQEW	First Trust NASDAQ	Pair Corr
0.65	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.66	TRV	The Travelers Companies	Pair Corr
0.66	INTC	Intel	Pair Corr
0.66	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against ETF Etf

0.45

Boeing

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.36	-0.36	-0.24	0.24	0.77	0.4	0.13	0.29	-0.28	META
MSFT	0.36		-0.58	-0.23	0.48	0.2	0.55	0.3	-0.01	-0.46	MSFT
UBER	-0.36	-0.58		0.62	-0.19	-0.01	-0.47	0.06	-0.06	0.77	UBER
F	-0.24	-0.23	0.62		0.05	-0.2	0.01	-0.06	0.09	0.9	F
T	0.24	0.48	-0.19	0.05		0.11	0.51	0.59	-0.17	-0.17	T
A	0.77	0.2	-0.01	-0.2	0.11		0.1	0.26	0.25	-0.17	A
CRM	0.4	0.55	-0.47	0.01	0.51	0.1		0.0	0.27	-0.16	CRM
JPM	0.13	0.3	0.06	-0.06	0.59	0.26	0.0		-0.55	-0.24	JPM
MRK	0.29	-0.01	-0.06	0.09	-0.17	0.25	0.27	-0.55		0.16	MRK
XOM	-0.28	-0.46	0.77	0.9	-0.17	-0.17	-0.16	-0.24	0.16		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	+ 0.9	F
A	+ 0.77	META
XOM	+ 0.77	UBER
F	+ 0.62	UBER
JPM	+ 0.59	T
CRM	+ 0.55	MSFT

High negative correlations

UBER	- 0.58	MSFT
MRK	- 0.55	JPM
CRM	- 0.47	UBER
XOM	- 0.46	MSFT
UBER	- 0.36	META
XOM	- 0.28	META

ETF Series Competition Risk-Adjusted Indicators

There is a big difference between ETF Etf performing well and ETF Series 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 ETF Series' 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	1.39	0.31	0.17	0.79	1.22	(1.63)	3.43	(1.95)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.46	(0.19)	0.00	(0.30)	0.00	0.00	2.67	(2.53)	12.29
F	1.47	(0.18)	0.00	(0.20)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.15	0.13	0.04	1.36	1.14	(1.37)	2.81	(2.16)	5.70
CRM	1.55	0.28	0.13	0.81	1.42	(1.88)	3.96	(2.95)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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