Burney Factor Correlations

BRNY Etf

USD 51.86 0.51 0.99%

The current 90-days correlation between Burney Factor Rotation and ClearBridge Large Cap is 0.86 (i.e., Very poor diversification). The correlation of Burney Factor 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.

Burney Factor Correlation With Market

Almost no diversification

The correlation between Burney Factor Rotation and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Burney Factor Rotation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Burney Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Burney Factor Rotation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with Burney Etf

0.94	VO	Vanguard Mid Cap	Pair Corr
0.91	VXF	Vanguard Extended Market	Pair Corr
0.93	IJH	iShares Core SP	Pair Corr
0.94	IWR	iShares Russell Mid	Pair Corr
0.93	MDY	SPDR SP MIDCAP	Pair Corr
0.92	FV	First Trust Dorsey	Pair Corr
0.93	IVOO	Vanguard SP Mid	Pair Corr
0.94	JHMM	John Hancock Multifactor	Pair Corr
0.93	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.95	XMMO	Invesco SP MidCap	Pair Corr
0.84	UPRO	ProShares UltraPro SP500	Pair Corr
0.95	QTJA	Innovator ETFs Trust	Pair Corr
0.91	QTOC	Innovator ETFs Trust	Pair Corr
0.98	XTOC	Innovator ETFs Trust	Pair Corr
0.97	QTAP	Innovator Growth 100	Pair Corr
0.95	XTJA	Innovator ETFs Trust	Pair Corr
0.97	XTAP	Innovator Equity Acc	Pair Corr
0.79	IBTI	iShares iBonds Dec	Pair Corr
0.88	OEFA	ALPS ETF Trust Symbol Change	Pair Corr
0.92	DXIV	Dimensional ETF Trust	Pair Corr
0.96	RCGE	RockCreek Global Equality	Pair Corr
0.79	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.75	MRK	Merck Company Earnings Call Tomorrow	Pair Corr
0.67	JNJ	Johnson Johnson	Pair Corr
0.77	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.67	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr
0.67	DIS	Walt Disney Earnings Call Today	Pair Corr
0.61	INTC	Intel Aggressive Push	Pair Corr
0.78	CAT	Caterpillar	Pair Corr

Moving against Burney Etf

0.58	T	ATT Inc Earnings Call This Week	Pair Corr
0.37	MMM	3M Company	Pair Corr

Related Correlations Analysis

	BALI	SIXH	DDM	FNY	BKDV	ELM	JPRE	FDV	RSPA	LRGE
BALI		0.82	0.91	0.88	0.91	0.95	0.42	0.83	0.93	0.22	BALI
SIXH	0.82		0.78	0.7	0.95	0.85	0.48	0.96	0.92	-0.33	SIXH
DDM	0.91	0.78		0.9	0.92	0.9	0.38	0.77	0.94	0.19	DDM
FNY	0.88	0.7	0.9		0.85	0.91	0.51	0.76	0.9	0.26	FNY
BKDV	0.91	0.95	0.92	0.85		0.92	0.44	0.92	0.99	-0.12	BKDV
ELM	0.95	0.85	0.9	0.91	0.92		0.54	0.89	0.94	0.15	ELM
JPRE	0.42	0.48	0.38	0.51	0.44	0.54		0.62	0.48	-0.04	JPRE
FDV	0.83	0.96	0.77	0.76	0.92	0.89	0.62		0.91	-0.24	FDV
RSPA	0.93	0.92	0.94	0.9	0.99	0.94	0.48	0.91		-0.03	RSPA
LRGE	0.22	-0.33	0.19	0.26	-0.12	0.15	-0.04	-0.24	-0.03		LRGE
	BALI	SIXH	DDM	FNY	BKDV	ELM	JPRE	FDV	RSPA	LRGE

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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

RSPA	+ 0.99	BKDV
FDV	+ 0.96	SIXH
ELM	+ 0.95	BALI
BKDV	+ 0.95	SIXH
RSPA	+ 0.94	DDM
RSPA	+ 0.94	ELM

High negative correlations

LRGE	- 0.33	SIXH
LRGE	- 0.24	FDV
LRGE	- 0.12	BKDV
LRGE	- 0.04	JPRE
LRGE	- 0.03	RSPA

Burney Factor Constituents Risk-Adjusted Indicators

There is a big difference between Burney Etf performing well and Burney Factor 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 Burney Factor'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
BALI	0.43	0.02	0.01	0.07	0.51	(0.44)	0.87	(0.91)	2.85
SIXH	0.37	0.10	0.19	0.35	0.00	(0.45)	0.92	(0.70)	2.05
DDM	1.17	0.00	0.02	0.03	1.41	(1.21)	2.42	(2.15)	6.47
FNY	0.97	(0.05)	(0.03)	0.00	1.29	(0.98)	1.92	(2.05)	5.08
BKDV	0.59	0.08	0.11	0.13	0.54	(0.69)	1.33	(1.11)	3.11
ELM	0.37	0.01	(0.01)	0.06	0.42	(0.41)	0.82	(0.92)	2.09
JPRE	0.61	(0.03)	0.00	(0.05)	0.00	0.00	1.23	(1.38)	3.26
FDV	0.51	0.07	0.09	0.18	0.41	(0.59)	1.11	(0.80)	2.35
RSPA	0.44	0.02	0.01	0.07	0.50	(0.44)	0.99	(0.95)	2.55
LRGE	0.75	(0.10)	0.00	(0.09)	0.00	0.00	1.13	(2.09)	4.81

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