DOJE Correlations

DOJE Etf   9.46  0.38  4.19%   
The current 90-days correlation between DOJE and Grayscale Ethereum Covered is -0.17 (i.e., Good diversification). The correlation of DOJE 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.

DOJE Correlation With Market

Excellent diversification

The correlation between DOJE and DJI is -0.65 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DOJE and DJI in the same portfolio, assuming nothing else is changed.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DOJE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with DOJE Etf

  0.68MPAY Exchange Traded ConceptsPairCorr

Moving against DOJE Etf

  0.84DFSD Dimensional ETF TrustPairCorr
  0.82VTV Vanguard Value IndexPairCorr
  0.79VEA Vanguard FTSE DevelopedPairCorr
  0.77FIDU Fidelity MSCI IndustrialsPairCorr
  0.72AMPD Tidal ETF ServicesPairCorr
  0.71CPST Calamos ETF TrustPairCorr
  0.67VB Vanguard Small CapPairCorr
  0.66ITWO Proshares Russell 2000PairCorr
  0.64BND Vanguard Total Bond Sell-off TrendPairCorr
  0.64VWO Vanguard FTSE EmergingPairCorr
  0.6VO Vanguard Mid Cap Sell-off TrendPairCorr
  0.54ELON Battleshares TSLAPairCorr
  0.43VTI Vanguard Total StockPairCorr
  0.4SPY SPDR SP 500PairCorr
  0.4IVV iShares Core SPPairCorr
  0.85REGL ProShares SP MidCapPairCorr
  0.79JEPI JPMorgan Equity PremiumPairCorr
  0.79XFIX Fm Investments Symbol ChangePairCorr
  0.78BMVP Invesco Bloomberg MVPPairCorr
  0.78TAXT Northern Trust TaxPairCorr
  0.76NULV Nuveen ESG LargePairCorr
  0.73PCEM Litman Gregory FundsPairCorr
  0.72IQSZ Invesco Actively ManagedPairCorr
  0.71ESML iShares ESG AwarePairCorr
  0.68NBCE Neuberger Berman ETFPairCorr
  0.63SIXJ AIM ETF ProductsPairCorr
  0.63FB ProShares Trust ProSharesPairCorr
  0.62PFF iShares PreferredPairCorr
  0.62WDNA WisdomTree BioRevolutionPairCorr
  0.51GPT Intelligent Alpha Atlas Symbol ChangePairCorr
  0.36IBTM iShares iBonds DecPairCorr
  0.86DOGG First Trust Exchange Low VolatilityPairCorr
  0.85LVHI Franklin International Low VolatilityPairCorr
  0.83SPVM Invesco SP 500PairCorr
  0.78SCDV ETF Series SolutionsPairCorr
  0.75STXE EA Series TrustPairCorr
  0.75IAUM iShares Gold TrustPairCorr

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

XOMMRK
CRMMSFT
UBERMSFT
AUBER
AMSFT
MRKF
  

High negative correlations

XOMMSFT
MRKMSFT
XOMCRM
MRKUBER
XOMA
CRMT

DOJE Competition Risk-Adjusted Indicators

There is a big difference between DOJE Etf performing well and DOJE 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 DOJE'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.50  0.02  0.00  0.07  1.52 
 3.43 
 13.69 
MSFT  1.32 (0.38) 0.00 (1.03) 0.00 
 1.90 
 13.28 
UBER  1.51 (0.44) 0.00 (0.83) 0.00 
 2.41 
 11.09 
F  1.21  0.07  0.05  0.13  1.18 
 3.34 
 7.16 
T  1.00  0.21  0.17  6.48  0.77 
 3.87 
 5.31 
A  1.25 (0.33) 0.00 (0.22) 0.00 
 2.90 
 7.85 
CRM  1.71 (0.45) 0.00 (0.42) 0.00 
 2.94 
 12.37 
JPM  1.27 (0.10) 0.00 (0.02) 0.00 
 2.34 
 7.38 
MRK  1.29  0.43  0.31  0.78  1.00 
 2.93 
 8.74 
XOM  1.25  0.32  0.20  1.60  1.14 
 2.68 
 6.83