DexCom Correlations

DC4 Etf

84.05 6.67 2.96%

The current 90-days correlation between DexCom and SPDR Barclays 10 is 0.15 (i.e., Average diversification). The correlation of DexCom 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.

DexCom Correlation With Market

Poor diversification

The correlation between DexCom and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DexCom and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to DexCom could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DexCom when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DexCom - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DexCom to buy it.

Moving together with DexCom Etf

0.79	GQ9	SPDR Gold Shares	Pair Corr
0.73	IS3N	iShares Core MSCI	Pair Corr
0.72	IBC3	iShares Core MSCI	Pair Corr
0.77	D6RR	Deka MSCI Europe	Pair Corr
0.71	SPYA	SSgA SPDR ETFs	Pair Corr
0.85	SLVR	Global X Silver	Pair Corr
0.81	EUN2	iShares II Public	Pair Corr
0.66	DVDE	Franklin European Quality	Pair Corr
0.8	ETSZ	Easy ETF	Pair Corr
0.69	36BZ	iShares MSCI China	Pair Corr
0.61	SC01	Invesco Markets plc	Pair Corr
0.73	IQQE	iShares MSCI EM	Pair Corr
0.76	IQQA	iShares Euro Dividend	Pair Corr
0.66	T3MP	JPMorgan ETFs ICAV	Pair Corr
0.75	GQWD	Goldman Sachs Alpha	Pair Corr
0.82	XHYA	Xtrackers II	Pair Corr
0.68	DVDG	Franklin Global Quality	Pair Corr
0.84	WGES	Amundi MSCI World	Pair Corr
0.71	LASI	Multi Units Luxembourg	Pair Corr
0.83	DBX4	Xtrackers MSCI	Pair Corr
0.78	UBU5	UBS ETF Public	Pair Corr
0.72	XDEW	Xtrackers Public	Pair Corr
0.75	FTGU	First Trust Large	Pair Corr
0.7	EXV4	iShares STOXX Europe	Pair Corr
0.73	IS3N	iShares Core MSCI	Pair Corr
0.8	XDWM	Xtrackers Public	Pair Corr

Moving against DexCom Etf

0.9	XJSE	Xtrackers II	Pair Corr
0.81	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

DexCom Competition Risk-Adjusted Indicators

There is a big difference between DexCom Etf performing well and DexCom 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 DexCom'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
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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

DexCom iShares Govt Bond Amundi MSCI Europe United Airlines Holdings iShares Global AAA AA Global X European iShares Smart City UBS Barclays Liquid SPDR Barclays 10 American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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