VictoryShares Correlations

Etfs USA . 
Etf . VictoryShares
CSA Etf  USD 66.16  0.00  0.00%   
The current 90-days correlation between VictoryShares and First Trust Exchange Traded is 0.09 (i.e., Significant 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

Pay attention - limited upside

The correlation between VictoryShares and DJI is -0.83 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VictoryShares and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with VictoryShares Etf

  0.78HPQ HP IncPairCorr

Moving against VictoryShares Etf

  0.93DFAS Dimensional Small CapPairCorr
  0.93SIL Global X SilverPairCorr
  0.92VB Vanguard Small CapPairCorr
  0.92FNDA Schwab Fundamental SmallPairCorr
  0.91IJR iShares Core SPPairCorr
  0.91SPSM SPDR Portfolio SPPairCorr
  0.91VIOO Vanguard SP SmallPairCorr
  0.91SIVR abrdn Physical SilverPairCorr
  0.9IWM iShares Russell 2000PairCorr
  0.9VRTIX Vanguard Russell 2000PairCorr
  0.9VTWO Vanguard Russell 2000PairCorr
  0.9PRFZ Invesco FTSE RAFIPairCorr
  0.9JNUG Direxion Daily JuniorPairCorr
  0.9NUGT Direxion Daily GoldPairCorr
  0.9AHYB American Century ETFPairCorr
  0.87GDXU MicroSectors Gold MinersPairCorr
  0.83AGQ ProShares Ultra SilverPairCorr
  0.81SHNY Microsectors GoldPairCorr
  0.8MULL GraniteShares 2x LongPairCorr
  0.79MUU Direxion Daily MUPairCorr
  0.78RDIV Invesco SP UltraPairCorr
  0.76KORU Direxion Daily SouthPairCorr
  0.91AA Alcoa CorpPairCorr
  0.9OASC OneAscent Small CapPairCorr
  0.9BA BoeingPairCorr
  0.89BINC BlackRock ETF TrustPairCorr
  0.89WMT Walmart Common Stock Aggressive PushPairCorr
  0.86VBK Vanguard Small CapPairCorr
  0.83JNJ Johnson JohnsonPairCorr
  0.82MRK Merck Company Aggressive PushPairCorr
  0.82CAT CaterpillarPairCorr
  0.76XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.74INTC IntelPairCorr
  0.69CVX Chevron CorpPairCorr
  0.45HD Home DepotPairCorr
  0.42KO Coca Cola Aggressive PushPairCorr
  0.38DIS Walt DisneyPairCorr

Related Correlations Analysis


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

KNGZ
+ 0.97
FTDS
TPLE
+ 0.94
TPHE
FTDS
+ 0.93
VMOT
KNGZ
+ 0.9
VMOT
KNGZ
+ 0.78
FOVL
FTDS
+ 0.77
FOVL
  

High negative correlations

CRUZ
- 0.92
FTDS
KNGZ
- 0.91
CRUZ
CRUZ
- 0.85
VMOT
CRUZ
- 0.81
FOVL
CRUZ
- 0.62
TPLE
CRUZ
- 0.58
TPHE

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TPHE  0.49  0.04  0.00 (0.37) 0.48 
(0.57)
 1.23 
(0.94)
 2.70 
TPLE  0.48  0.04  0.00 (0.62) 0.43 
(0.61)
 1.28 
(0.81)
 2.58 
CLSC  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
 0.00 
 0.00 
CIZ  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
 0.00 
 0.00 
VMOT  0.59  0.16  0.10  4.37  0.68 
(0.74)
 1.55 
(1.12)
 4.72 
FOVL  0.64  0.04  0.01 (0.86) 0.78 
(0.70)
 1.46 
(1.30)
 4.02 
FTDS  0.66  0.17  0.23  0.24  0.40 
(0.77)
 2.05 
(1.25)
 3.67 
CID  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
 0.00 
 0.00 
CRUZ  1.52 (0.34) 0.00  2.26  0.00 
 0.00 
 2.19 
(3.68)
 18.78 
KNGZ  0.67  0.08  0.09  0.12  0.67 
(0.76)
 1.73 
(1.33)
 4.28 

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