Ocean Park Correlations

DUKH Etf

USD 25.54 0.01 0.04%

The current 90-days correlation between Ocean Park High and SPDR Bloomberg Short is 0.85 (i.e., Very poor diversification). The correlation of Ocean Park 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.

Ocean Park Correlation With Market

Very weak diversification

The correlation between Ocean Park High and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocean Park High 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 Ocean Park High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Ocean Etf

0.97	HYG	iShares iBoxx High	Pair Corr
0.96	USHY	iShares Broad USD	Pair Corr
0.96	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.9	SHYG	iShares 0 5 Sell-off Trend	Pair Corr
0.97	HYLB	Xtrackers USD High	Pair Corr
0.9	SJNK	SPDR Bloomberg Short Sell-off Trend	Pair Corr
0.91	ANGL	VanEck Fallen Angel	Pair Corr
0.93	FALN	iShares Fallen Angels	Pair Corr
0.98	HYLS	First Trust Tactical	Pair Corr
0.76	HYDW	Xtrackers Low Beta	Pair Corr
0.84	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.64	SIXD	AIM ETF Products	Pair Corr
0.88	CEFD	ETRACS Monthly Pay	Pair Corr
0.71	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.61	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.8	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.61	VZ	Verizon Communications Aggressive Push	Pair Corr
0.75	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.75	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.73	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against Ocean Etf

0.51	VIIX	VIIX	Pair Corr
0.33	ULE	ProShares Ultra Euro	Pair Corr
0.31	YCL	ProShares Ultra Yen	Pair Corr
0.74	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.33	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	SJNK	EMLC	USHY	SLQD	ANGL
SJNK		-0.26	0.97	0.56	0.78	SJNK
EMLC	-0.26		-0.05	0.54	0.28	EMLC
USHY	0.97	-0.05		0.7	0.9	USHY
SLQD	0.56	0.54	0.7		0.81	SLQD
ANGL	0.78	0.28	0.9	0.81		ANGL
	SJNK	EMLC	USHY	SLQD	ANGL

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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

USHY	+ 0.97	SJNK
ANGL	+ 0.9	USHY
ANGL	+ 0.81	SLQD
ANGL	+ 0.78	SJNK
SLQD	+ 0.7	USHY
SLQD	+ 0.56	SJNK

High negative correlations

EMLC	- 0.26	SJNK
USHY	- 0.05	EMLC

Ocean Park Constituents Risk-Adjusted Indicators

There is a big difference between Ocean Etf performing well and Ocean Park 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 Ocean Park'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
SJNK	0.14	0.02	(0.32)	0.22	0.00	(0.18)	0.32	(0.20)	0.83
EMLC	0.38	(0.06)	0.00	(3.71)	0.00	0.00	0.80	(0.80)	2.72
USHY	0.16	0.01	(0.31)	0.17	0.00	(0.19)	0.33	(0.30)	0.92
SLQD	0.08	0.00	(0.79)	(0.15)	0.00	(0.09)	0.20	(0.16)	0.50
ANGL	0.18	(0.01)	(0.35)	0.05	0.16	(0.21)	0.35	(0.35)	1.07

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