Pacer Small Correlations

Etfs . USA . 
Etf . Pacer Small Cap
CALF Etf  USD 47.79  0.75  1.59%   
The current 90-days correlation between Pacer Small Cap and Invesco SP SmallCap is 0.96 (i.e., Almost no 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.

Pacer Small Correlation With Market

Very poor diversification

The correlation between Pacer Small Cap and DJI is 0.84 (i.e., Very poor 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.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Pacer Small Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Pacer Etf

  0.86VBR Vanguard Small CapPairCorr
  0.88IWN iShares Russell 2000PairCorr
  0.87DFAT Dimensional TargetedPairCorr
  0.85IJS iShares SP SmallPairCorr
  0.85SLYV SPDR SP 600PairCorr
  0.88AVUV Avantis Small CapPairCorr
  0.85DES WisdomTree SmallCapPairCorr
  0.85VIOV Vanguard SP SmallPairCorr
  0.88VRTVX Vanguard Scottsdale FundsPairCorr
  0.8UPRO ProShares UltraPro SP500PairCorr
  0.67QTJA Innovator ETFs TrustPairCorr
  0.63QTOC Innovator ETFs TrustPairCorr
  0.66XTOC Innovator ETFs TrustPairCorr
  0.71QTAP Innovator Growth 100PairCorr
  0.64XTJA Innovator ETFs TrustPairCorr
  0.66XDJA Innovator ETFs TrustPairCorr
  0.73XTAP Innovator Equity AccPairCorr
  0.74INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.69CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.65XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.64GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.63CSCO Cisco Systems Aggressive PushPairCorr

Moving against Pacer Etf

  0.53JNJ Johnson Johnson Sell-off TrendPairCorr
  0.39MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.38KO Coca Cola Aggressive PushPairCorr

Related Correlations Analysis

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