VictoryShares Correlations

CDC Etf

USD 73.26 0.20 0.27%

The current 90-days correlation between VictoryShares EQ Income and iShares MSCI Hong is 0.33 (i.e., Weak diversification). The correlation of VictoryShares 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.

VictoryShares Correlation With Market

Poor diversification

The correlation between VictoryShares EQ Income and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VictoryShares EQ Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with VictoryShares Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in VictoryShares EQ Income. 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 VictoryShares Etf

0.95	VTV	Vanguard Value Index	Pair Corr
0.96	VYM	Vanguard High Dividend	Pair Corr
0.9	IWD	iShares Russell 1000	Pair Corr
0.95	DGRO	iShares Core Dividend	Pair Corr
0.88	IVE	iShares SP 500	Pair Corr
0.62	SPYV	SPDR Portfolio SP	Pair Corr
0.88	IUSV	iShares Core SP	Pair Corr
0.67	NOBL	ProShares SP 500	Pair Corr
0.64	FNDX	Schwab Fundamental Large	Pair Corr
0.63	VLUE	iShares MSCI USA	Pair Corr
0.74	XTAP	Innovator Equity Acc	Pair Corr
0.92	EWT	iShares MSCI Taiwan	Pair Corr
0.84	ESML	iShares ESG Aware	Pair Corr
0.96	REGL	ProShares SP MidCap	Pair Corr
0.76	GDXY	YieldMax Gold Miners	Pair Corr
0.62	FB	ProShares Trust ProShares	Pair Corr
0.96	BMVP	Invesco Bloomberg MVP	Pair Corr
0.94	STXE	EA Series Trust	Pair Corr
0.98	LVHI	Franklin International	Pair Corr
0.65	JANW	AIM ETF Products	Pair Corr
0.91	WLDR	Affinity World Leaders	Pair Corr
0.89	NULV	Nuveen ESG Large	Pair Corr
0.85	FPXE	First Trust IPOX	Pair Corr

Related Correlations Analysis

	PFM	EWX	TPYP	JSMD	GSSC	EWS	IYT	SPEU	OAKM	EWH
PFM		0.9	0.86	0.23	0.82	0.8	0.41	0.92	0.57	0.67	PFM
EWX	0.9		0.78	0.27	0.85	0.92	0.3	0.96	0.54	0.68	EWX
TPYP	0.86	0.78		-0.07	0.56	0.69	0.15	0.78	0.23	0.49	TPYP
JSMD	0.23	0.27	-0.07		0.51	0.08	0.78	0.23	0.28	0.71	JSMD
GSSC	0.82	0.85	0.56	0.51		0.69	0.45	0.87	0.73	0.63	GSSC
EWS	0.8	0.92	0.69	0.08	0.69		0.12	0.87	0.48	0.53	EWS
IYT	0.41	0.3	0.15	0.78	0.45	0.12		0.36	0.43	0.8	IYT
SPEU	0.92	0.96	0.78	0.23	0.87	0.87	0.36		0.68	0.67	SPEU
OAKM	0.57	0.54	0.23	0.28	0.73	0.48	0.43	0.68		0.37	OAKM
EWH	0.67	0.68	0.49	0.71	0.63	0.53	0.8	0.67	0.37		EWH
	PFM	EWX	TPYP	JSMD	GSSC	EWS	IYT	SPEU	OAKM	EWH

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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

SPEU	+ 0.96	EWX
SPEU	+ 0.92	PFM
EWS	+ 0.92	EWX
EWX	+ 0.9	PFM
SPEU	+ 0.87	GSSC
SPEU	+ 0.87	EWS

High negative correlations

JSMD

- 0.07

TPYP

VictoryShares Constituents Risk-Adjusted Indicators

There is a big difference between VictoryShares Etf performing well and VictoryShares 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 VictoryShares' 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
PFM	0.46	0.05	0.04	0.14	0.41	(0.51)	0.96	(0.84)	2.93
EWX	0.52	0.11	0.09	0.39	0.51	(0.53)	1.07	(1.01)	2.68
TPYP	0.63	0.25	0.21	(3.44)	0.50	(0.73)	1.32	(1.16)	3.11
JSMD	0.95	(0.01)	0.01	0.07	1.08	(1.04)	1.94	(2.17)	6.45
GSSC	0.75	0.07	0.08	0.15	0.68	(0.87)	1.82	(1.26)	4.78
EWS	0.67	0.10	0.06	0.35	0.67	(0.76)	1.67	(1.33)	4.60
IYT	0.97	0.13	0.15	0.18	0.77	(1.18)	2.52	(1.40)	5.55
SPEU	0.57	0.19	0.23	0.42	0.35	(0.68)	1.29	(1.02)	3.21
OAKM	0.68	0.07	0.07	0.16	0.64	(0.71)	1.69	(1.23)	4.01
EWH	0.77	0.06	0.03	0.15	0.90	(0.75)	1.76	(1.43)	4.89

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