Ocean Park Correlations

DUKX Etf

23.70 0.06 0.25%

The current 90-days correlation between Ocean Park International and iShares Trust is 0.65 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ocean Park Correlation With Market

Modest diversification

The correlation between Ocean Park International and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocean Park International 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 International. 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

0.68	AA	Alcoa Corp	Pair Corr
0.7	DIS	Walt Disney	Pair Corr

Moving against Ocean Etf

0.49	DBEF	Xtrackers MSCI EAFE	Pair Corr
0.69	MMM	3M Company	Pair Corr
0.61	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.6	JPM	JPMorgan Chase	Pair Corr
0.56	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	DUKX	IRTR	SSXU	BAMA	BAMO	DHDG	Z	MBCC	MBBB
DUKX		0.25	0.12	0.19	-0.01	0.03	0.19	0.28	0.5	DUKX
IRTR	0.25		0.94	0.91	0.77	0.87	0.72	0.91	0.9	IRTR
SSXU	0.12	0.94		0.84	0.77	0.84	0.56	0.9	0.78	SSXU
BAMA	0.19	0.91	0.84		0.82	0.97	0.71	0.83	0.72	BAMA
BAMO	-0.01	0.77	0.77	0.82		0.85	0.52	0.86	0.57	BAMO
DHDG	0.03	0.87	0.84	0.97	0.85		0.66	0.81	0.64	DHDG
Z	0.19	0.72	0.56	0.71	0.52	0.66		0.69	0.64	Z
MBCC	0.28	0.91	0.9	0.83	0.86	0.81	0.69		0.82	MBCC
MBBB	0.5	0.9	0.78	0.72	0.57	0.64	0.64	0.82		MBBB
	DUKX	IRTR	SSXU	BAMA	BAMO	DHDG	Z	MBCC	MBBB

Click cells to compare fundamentals

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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

DHDG	+ 0.97	BAMA
SSXU	+ 0.94	IRTR
BAMA	+ 0.91	IRTR
MBCC	+ 0.91	IRTR
MBBB	+ 0.9	IRTR
MBCC	+ 0.9	SSXU

High negative correlations

BAMO

- 0.01

DUKX

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
DUKX	0.38	(0.05)	0.00	(0.24)	0.00	0.00	0.63	(0.80)	3.28
IRTR	0.27	0.02	0.04	0.10	0.37	(0.29)	0.63	(0.46)	2.24
SSXU	0.50	0.05	0.06	0.11	0.69	(0.49)	1.17	(0.87)	3.01
BAMA	0.41	0.00	0.00	0.02	0.60	(0.39)	0.65	(0.93)	2.56
BAMO	0.41	0.02	0.02	(0.33)	0.59	(0.40)	0.71	(0.93)	2.74
DHDG	0.35	0.01	0.02	0.04	0.51	(0.37)	0.68	(0.80)	2.55
Z	1.65	0.09	0.03	0.07	2.64	(1.58)	3.50	(3.63)	14.88
MBCC	0.57	0.03	0.03	(1.50)	0.79	(0.56)	1.12	(1.16)	3.80
MBBB	0.26	0.02	0.05	0.20	0.24	(0.28)	0.56	(0.47)	1.74

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