Pacer Small Correlations

CALF Etf

25.97 0.03 0.12%

The current 90-days correlation between Pacer Small Cap and Vanguard SP 500 is -0.02 (i.e., Good diversification). The correlation of Pacer Small 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.

Pacer Small Correlation With Market

Very weak diversification

The correlation between Pacer Small Cap and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacer Small Cap and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Pacer Small could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pacer Small when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Pacer Small - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Pacer Small Cap to buy it.

Moving together with Pacer Etf

0.69	IMEU	iShares Core MSCI	Pair Corr
0.67	MUSD	iShares MSCI USA	Pair Corr
0.82	IDVY	iShares Euro Dividend	Pair Corr
0.67	EUNA	iShares STOXX Europe	Pair Corr
0.83	WQDA	iShares MSCI World	Pair Corr
0.61	SLXU	iShares Core Corp	Pair Corr
0.73	UEDV	SPDR SP Dividend	Pair Corr
0.64	SJPE	iShares Core MSCI	Pair Corr
0.77	TEET	VanEck European Equal	Pair Corr
0.75	VHYL	Vanguard FTSE All	Pair Corr
0.72	EUEA	iShares II Public	Pair Corr
0.62	GEDV	SPDR SP Global	Pair Corr
0.71	SJPD	iShares Core MSCI	Pair Corr

Moving against Pacer Etf

0.72	SXLU	SSgA SPDR ETFs	Pair Corr
0.54	INFR	iShares Global Infra	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.53	-0.61	0.51	-0.55	0.22	-0.16	-0.53	-0.6	META
MSFT	0.66		0.83	-0.52	0.37	-0.19	0.05	-0.34	-0.77	-0.61	MSFT
UBER	0.53	0.83		-0.61	0.56	-0.23	-0.18	-0.32	-0.85	-0.6	UBER
F	-0.61	-0.52	-0.61		-0.69	0.49	0.32	0.44	0.68	0.75	F
T	0.51	0.37	0.56	-0.69		-0.45	-0.53	-0.26	-0.51	-0.48	T
A	-0.55	-0.19	-0.23	0.49	-0.45		-0.2	-0.27	0.4	0.19	A
CRM	0.22	0.05	-0.18	0.32	-0.53	-0.2		0.41	0.11	0.2	CRM
JPM	-0.16	-0.34	-0.32	0.44	-0.26	-0.27	0.41		0.38	0.44	JPM
MRK	-0.53	-0.77	-0.85	0.68	-0.51	0.4	0.11	0.38		0.66	MRK
XOM	-0.6	-0.61	-0.6	0.75	-0.48	0.19	0.2	0.44	0.66		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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.68	F
MSFT	+ 0.66	META
XOM	+ 0.66	MRK
T	+ 0.56	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.69	F
F	- 0.61	UBER
XOM	- 0.61	MSFT
F	- 0.61	META

Pacer Small Competition Risk-Adjusted Indicators

There is a big difference between Pacer Etf performing well and Pacer Small 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 Pacer Small'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	1.38	(0.27)	0.00	(0.20)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.68	(1.65)	3.38	(2.63)	16.30
T	0.95	(0.22)	0.00	(0.71)	0.00	0.00	1.61	(2.18)	5.75
A	1.23	0.08	0.06	0.15	1.26	(1.33)	2.34	(2.21)	11.03
CRM	1.54	0.05	0.03	0.13	1.98	(1.51)	3.66	(2.92)	9.91
JPM	1.05	(0.02)	0.00	0.06	1.39	(1.07)	2.00	(1.91)	7.02
MRK	1.44	0.40	0.28	0.54	1.07	(1.80)	4.85	(2.06)	11.45
XOM	0.94	0.05	(0.01)	0.28	0.98	(1.01)	1.96	(1.51)	4.99

Pacer Small 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 Pacer Small etf to make a market-neutral strategy. Peer analysis of Pacer Small could also be used in its relative valuation, which is a method of valuing Pacer Small by comparing valuation metrics with similar companies.

Vanguard SP 500 SPDR Dow Jones iShares Core MSCI iShares SP 500 Vanguard FTSE All World iShares China CNY iShares China CNY iShares Core MSCI iShares MSCI World iShares MSCI EM American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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