Two Roads Correlations

CGV Etf

USD 15.84 0.08 0.50%

The current 90-days correlation between Two Roads Shared and Even Herd Long is -0.04 (i.e., Good diversification). The correlation of Two Roads 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.

Two Roads Correlation With Market

Very poor diversification

The correlation between Two Roads Shared and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Two Roads Shared and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Two Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Two Roads Shared. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Two Etf

0.98	FNDC	Schwab Fundamental	Pair Corr
0.98	AVDV	Avantis International	Pair Corr
0.97	DLS	WisdomTree International	Pair Corr
0.98	PDN	Invesco FTSE RAFI	Pair Corr
0.98	DISV	Dimensional ETF Trust	Pair Corr
0.98	ISVL	iShares International	Pair Corr
0.97	DIM	WisdomTree International	Pair Corr
0.97	DDLS	WisdomTree Dynamic	Pair Corr
0.97	FYLD	Cambria Foreign Shar	Pair Corr
0.76	VTI	Vanguard Total Stock	Pair Corr
0.73	SPY	SPDR SP 500	Pair Corr
0.73	IVV	iShares Core SP	Pair Corr
0.64	BND	Vanguard Total Bond	Pair Corr
0.94	VTV	Vanguard Value Index	Pair Corr
0.83	VO	Vanguard Mid Cap	Pair Corr
0.97	VEA	Vanguard FTSE Developed	Pair Corr
0.93	VB	Vanguard Small Cap	Pair Corr
0.88	VWO	Vanguard FTSE Emerging	Pair Corr
0.96	IBMR	iShares Trust	Pair Corr
0.87	THD	iShares MSCI Thailand	Pair Corr
0.97	IAUM	iShares Gold Trust	Pair Corr
0.92	YLD	Principal Active High	Pair Corr
0.96	BBEU	JPMorgan BetaBuilders	Pair Corr
0.85	RDIV	Invesco SP Ultra	Pair Corr
0.86	VBK	Vanguard Small Cap	Pair Corr
0.94	VUSB	Vanguard Ultra Short	Pair Corr
0.88	AHYB	American Century ETF	Pair Corr
0.93	SPMD	SPDR Russell Small	Pair Corr
0.79	SEIX	Virtus ETF Trust	Pair Corr
0.92	EDEN	iShares MSCI Denmark	Pair Corr
0.89	MART	Allianzim Large Cap	Pair Corr
0.84	OASC	OneAscent Small Cap	Pair Corr
0.91	GAPR	First Trust Exchange	Pair Corr
0.96	ABI	VictoryShares Pioneer	Pair Corr
0.94	BINC	BlackRock ETF Trust	Pair Corr
0.89	GSIG	Goldman Sachs Access	Pair Corr
0.89	DBJP	Xtrackers MSCI Japan	Pair Corr

Related Correlations Analysis

	SMCO	DSMC	SPYT	SHOC	KEAT	HECO	QUVU	MRNY	SPTB	EHLS
SMCO		0.97	0.81	0.94	0.9	0.6	0.94	0.91	0.17	0.92	SMCO
DSMC	0.97		0.76	0.84	0.92	0.42	0.97	0.88	0.19	0.83	DSMC
SPYT	0.81	0.76		0.84	0.63	0.64	0.79	0.61	0.2	0.74	SPYT
SHOC	0.94	0.84	0.84		0.82	0.74	0.83	0.85	0.08	0.94	SHOC
KEAT	0.9	0.92	0.63	0.82		0.33	0.92	0.92	0.23	0.88	KEAT
HECO	0.6	0.42	0.64	0.74	0.33		0.34	0.49	-0.06	0.69	HECO
QUVU	0.94	0.97	0.79	0.83	0.92	0.34		0.85	0.27	0.82	QUVU
MRNY	0.91	0.88	0.61	0.85	0.92	0.49	0.85		0.11	0.93	MRNY
SPTB	0.17	0.19	0.2	0.08	0.23	-0.06	0.27	0.11		0.14	SPTB
EHLS	0.92	0.83	0.74	0.94	0.88	0.69	0.82	0.93	0.14		EHLS
	SMCO	DSMC	SPYT	SHOC	KEAT	HECO	QUVU	MRNY	SPTB	EHLS

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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

DSMC	+ 0.97	SMCO
QUVU	+ 0.97	DSMC
SHOC	+ 0.94	SMCO
QUVU	+ 0.94	SMCO
EHLS	+ 0.94	SHOC
EHLS	+ 0.93	MRNY

High negative correlations

SPTB

- 0.06

HECO

Two Roads Constituents Risk-Adjusted Indicators

There is a big difference between Two Etf performing well and Two Roads 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 Two Roads' 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
SMCO	0.72	0.05	0.05	0.09	0.87	(0.70)	1.56	(1.64)	4.18
DSMC	0.84	0.11	0.13	0.14	0.76	(0.97)	2.31	(1.38)	4.86
SPYT	0.46	(0.05)	0.00	(0.04)	0.00	0.00	0.85	(1.10)	3.39
SHOC	1.64	0.01	0.01	0.04	2.30	(1.57)	3.07	(3.85)	10.30
KEAT	0.54	0.16	0.16	0.43	0.57	(0.57)	1.04	(1.07)	3.41
HECO	2.00	(0.27)	0.00	(0.16)	0.00	0.00	4.27	(4.51)	12.01
QUVU	0.53	0.07	0.10	0.13	0.46	(0.63)	1.15	(1.07)	3.38
MRNY	2.75	0.42	0.11	0.24	3.25	(2.93)	6.96	(5.77)	19.52
SPTB	0.13	0.00	(0.20)	(0.06)	0.14	(0.15)	0.23	(0.26)	0.82
EHLS	1.00	0.02	0.00	0.06	1.62	(0.90)	1.84	(3.03)	7.50

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