VictoryShares WestEnd Correlations

BMDL Etf

25.30 0.11 0.44%

The current 90-days correlation between VictoryShares WestEnd and BlackRock High Yield is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VictoryShares WestEnd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VictoryShares WestEnd Economic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VictoryShares WestEnd Correlation With Market

Very good diversification

The correlation between VictoryShares WestEnd Economic and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VictoryShares WestEnd Economic 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 VictoryShares WestEnd Economic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with VictoryShares Etf

0.99	DEED	First Trust TCW	Pair Corr
0.9	MUSI	American Century Mul	Pair Corr
0.93	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.71	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.88	KO	Coca Cola Aggressive Push	Pair Corr

Moving against VictoryShares Etf

0.91	NVDL	GraniteShares 15x Long	Pair Corr
0.91	NVDX	T Rex 2X	Pair Corr
0.91	NVDU	Direxion Daily NVDA	Pair Corr
0.82	CRPT	First Trust SkyBridge	Pair Corr
0.81	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.8	DAPP	VanEck Digital Trans	Pair Corr
0.74	DPST	Direxion Daily Regional	Pair Corr
0.73	CONL	GraniteShares ETF Trust	Pair Corr
0.71	BITX	Volatility Shares Trust	Pair Corr
0.42	AFIF	Anfield Universal Fixed	Pair Corr
0.88	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.83	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.81	BAC	Bank of America Aggressive Push	Pair Corr
0.81	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.73	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.65	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.65	DIS	Walt Disney Sell-off Trend	Pair Corr
0.64	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.61	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.53	HD	Home Depot	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		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

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

VictoryShares WestEnd Competition Risk-Adjusted Indicators

There is a big difference between VictoryShares Etf performing well and VictoryShares WestEnd 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 VictoryShares WestEnd'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	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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