Roundhill Investments Correlations
| BYTE Etf | USD 9.76 0.08 0.83% |
The current 90-days correlation between Roundhill Investments and Exchange Traded Concepts is 0.54 (i.e., Very weak diversification). The correlation of Roundhill Investments 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.
Roundhill Investments Correlation With Market
Significant diversification
The correlation between Roundhill Investments and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Investments and DJI in the same portfolio, assuming nothing else is changed.
Roundhill |
Moving together with Roundhill Etf
| 0.61 | QTOC | Innovator ETFs Trust | PairCorr |
| 0.63 | XTOC | Innovator ETFs Trust | PairCorr |
| 0.72 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.66 | BAC | Bank of America Aggressive Push | PairCorr |
Moving against Roundhill Etf
| 0.63 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.55 | VZ | Verizon Communications Aggressive Push | PairCorr |
| 0.53 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.49 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.42 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.35 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| 0.94 | 0.87 | -0.77 | -0.45 | MTVR | ||
| 0.94 | 0.93 | -0.73 | -0.29 | MEME | ||
| 0.87 | 0.93 | -0.76 | -0.29 | DAPP | ||
| -0.77 | -0.73 | -0.76 | 0.52 | VCLO | ||
| -0.45 | -0.29 | -0.29 | 0.52 | MSGR | ||
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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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Roundhill Investments Constituents Risk-Adjusted Indicators
There is a big difference between Roundhill Etf performing well and Roundhill Investments 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 Roundhill Investments' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MTVR | 0.82 | 0.09 | (0.04) | (2.35) | 0.81 | 1.69 | 4.58 | |||
| MEME | 1.90 | 0.31 | 0.12 | 1.08 | 1.62 | 4.14 | 8.77 | |||
| DAPP | 3.51 | 0.22 | 0.14 | 0.18 | 3.58 | 7.68 | 25.81 | |||
| VCLO | 1.20 | (0.22) | 0.00 | (0.61) | 0.00 | 3.17 | 8.95 | |||
| MSGR | 1.32 | (0.19) | 0.00 | (0.62) | 0.00 | 2.42 | 6.91 |
Roundhill Investments 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 Roundhill Investments etf to make a market-neutral strategy. Peer analysis of Roundhill Investments could also be used in its relative valuation, which is a method of valuing Roundhill Investments by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |