VanEck ChiNext Correlations

CNXT Etf

USD 28.04 0.42 1.48%

The current 90-days correlation between VanEck ChiNext ETF and Freedom Day Dividend is -0.01 (i.e., Good diversification). The correlation of VanEck ChiNext 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.

VanEck ChiNext Correlation With Market

Good diversification

The correlation between VanEck ChiNext ETF and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck ChiNext ETF 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 VanEck ChiNext ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with VanEck Etf

0.91	KWEB	KraneShares CSI China Sell-off Trend	Pair Corr
0.92	FXI	iShares China Large	Pair Corr
0.98	ASHR	Xtrackers Harvest CSI	Pair Corr
0.95	GXC	SPDR SP China	Pair Corr
0.98	CQQQ	Invesco China Technology	Pair Corr
0.95	CXSE	WisdomTree China	Pair Corr
0.87	EWH	iShares MSCI Hong	Pair Corr
0.96	KBA	KraneShares Bosera MSCI	Pair Corr
0.98	CNYA	iShares MSCI China	Pair Corr
0.65	EWC	iShares MSCI Canada	Pair Corr
0.71	BST	BlackRock Science Tech	Pair Corr
0.8	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.65	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.77	HD	Home Depot	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.67	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.67	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.73	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.81	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Moving against VanEck Etf

0.84	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.49	IRET	Tidal Trust II	Pair Corr
0.59	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.36	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	MBOX	DINT	MCHI	DIVS	DIVZ	FM	PY	VT	XC
MBOX		0.39	0.33	0.32	0.76	0.41	0.83	0.81	0.03	MBOX
DINT	0.39		0.98	0.59	0.59	0.27	0.66	0.78	0.11	DINT
MCHI	0.33	0.98		0.56	0.5	0.24	0.58	0.71	0.12	MCHI
DIVS	0.32	0.59	0.56		0.27	-0.1	0.3	0.59	0.75	DIVS
DIVZ	0.76	0.59	0.5	0.27		0.41	0.96	0.85	-0.26	DIVZ
FM	0.41	0.27	0.24	-0.1	0.41		0.48	0.46	-0.2	FM
PY	0.83	0.66	0.58	0.3	0.96	0.48		0.91	-0.23	PY
VT	0.81	0.78	0.71	0.59	0.85	0.46	0.91		0.12	VT
XC	0.03	0.11	0.12	0.75	-0.26	-0.2	-0.23	0.12		XC
	MBOX	DINT	MCHI	DIVS	DIVZ	FM	PY	VT	XC

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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

MCHI	+ 0.98	DINT
PY	+ 0.96	DIVZ
VT	+ 0.91	PY
VT	+ 0.85	DIVZ
PY	+ 0.83	MBOX
VT	+ 0.81	MBOX

High negative correlations

XC	- 0.26	DIVZ
XC	- 0.23	PY
XC	- 0.2	FM
FM	- 0.1	DIVS

VanEck ChiNext Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck ChiNext 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 VanEck ChiNext'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
MBOX	0.60	(0.04)	(0.07)	0.07	0.62	(0.71)	1.25	(1.29)	3.49
DINT	1.22	0.10	0.02	0.33	1.74	(1.22)	3.13	(2.15)	10.90
MCHI	1.93	0.14	0.02	0.91	2.55	(2.15)	5.40	(3.25)	19.77
DIVS	0.47	(0.06)	(0.19)	0.00	0.58	(0.48)	1.00	(1.10)	2.41
DIVZ	0.45	0.02	(0.06)	0.16	0.26	(0.56)	1.05	(0.68)	2.35
FM	0.16	(0.01)	0.00	0.28	0.00	0.00	0.29	(0.33)	0.80
PY	0.55	0.01	(0.01)	0.13	0.42	(0.64)	1.18	(0.96)	3.91
VT	0.54	(0.04)	(0.10)	0.06	0.67	(0.58)	1.21	(1.03)	3.22
XC	0.68	(0.12)	0.00	(0.14)	0.00	0.00	1.66	(1.25)	4.05

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