Bank Of Montreal Correlations
| BNKU Etf | USD 36.13 0.00 0.00% |
The current 90-days correlation between Bank Of Montreal and MicroSectors Solactive FANG is 0.04 (i.e., Significant diversification). The correlation of Bank Of Montreal 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.
Bank |
Moving together with Bank Etf
| 0.72 | ARKW | ARK Next Generation | PairCorr |
| 0.61 | WTMF | WisdomTree Managed | PairCorr |
| 0.65 | WMT | Walmart Aggressive Push | PairCorr |
| 0.74 | DIS | Walt Disney Aggressive Push | PairCorr |
Moving against Bank Etf
| 0.67 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.7 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.63 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.53 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.51 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Related Correlations Analysis
| -0.64 | 0.77 | 0.93 | 0.89 | BULZ | ||
| -0.64 | -0.36 | -0.61 | -0.66 | NRGU | ||
| 0.77 | -0.36 | 0.9 | 0.59 | DPST | ||
| 0.93 | -0.61 | 0.9 | 0.79 | WEBL | ||
| 0.89 | -0.66 | 0.59 | 0.79 | HIBL | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Bank Of Montreal Constituents Risk-Adjusted Indicators
There is a big difference between Bank Etf performing well and Bank Of Montreal 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 Bank Of Montreal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BULZ | 3.03 | (0.03) | 0.06 | 0.11 | 4.56 | 6.24 | 19.02 | |||
| NRGU | 2.16 | (0.35) | 0.00 | (5.14) | 0.00 | 5.43 | 16.23 | |||
| DPST | 4.13 | 0.04 | 0.17 | 0.13 | 3.95 | 8.64 | 51.17 | |||
| WEBL | 2.20 | 0.46 | 0.18 | 0.28 | 2.84 | 5.40 | 16.27 | |||
| HIBL | 2.89 | (0.09) | 0.06 | 0.10 | 4.12 | 5.75 | 16.36 |
Bank Of Montreal 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 Bank Of Montreal etf to make a market-neutral strategy. Peer analysis of Bank Of Montreal could also be used in its relative valuation, which is a method of valuing Bank Of Montreal by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |