WEBs Defined Correlations

DVXP Etf

25.57 0.44 1.75%

The current 90-days correlation between WEBs Defined Volatility and Tidal Trust I is 0.54 (i.e., Very weak diversification). The correlation of WEBs Defined 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.

WEBs Defined Correlation With Market

Poor diversification

The correlation between WEBs Defined Volatility and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WEBs Defined Volatility and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with WEBs Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in WEBs Defined Volatility. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with WEBs Etf

0.99	XLP	Consumer Staples Select Aggressive Push	Pair Corr
1.0	VDC	Vanguard Consumer Staples	Pair Corr
0.93	IYK	iShares Consumer Staples	Pair Corr
0.98	KXI	iShares Global Consumer	Pair Corr
1.0	FSTA	Fidelity MSCI Consumer	Pair Corr
0.84	FTXG	First Trust Nasdaq	Pair Corr
0.93	RHS	Invesco SP 500	Pair Corr
0.87	FXG	First Trust Consumer	Pair Corr
0.95	PBJ	Invesco Dynamic Food	Pair Corr
0.77	PSL	Invesco DWA Consumer	Pair Corr
0.75	SHLD	Global X Defense	Pair Corr
0.66	FB	ProShares Trust ProShares	Pair Corr
0.79	SWP	SWP Growth Income	Pair Corr
0.71	FNGD	MicroSectors FANG Index Aggressive Push	Pair Corr
0.87	CALY	Callaway Golf Symbol Change	Pair Corr
0.73	GAPR	First Trust Exchange	Pair Corr
0.68	PTL	Northern Lights	Pair Corr
0.9	XSHD	Invesco SP SmallCap	Pair Corr
0.81	HERD	Pacer Cash Cows	Pair Corr
0.84	DIHP	Dimensional International	Pair Corr
0.83	NUSC	Nuveen ESG Small	Pair Corr
0.84	GMET	VanEck Vectors ETF	Pair Corr
0.84	VSS	Vanguard FTSE All	Pair Corr
0.74	MCDS	JPMorgan Fundamental Data	Pair Corr
0.72	LSVD	Advisors Inner	Pair Corr
0.71	LSAF	LeaderSharesTM AlphaFactor	Pair Corr
0.83	BKHY	BNY Mellon High	Pair Corr
0.75	VIG	Vanguard Dividend	Pair Corr
0.76	XAR	SPDR SP Aerospace	Pair Corr
0.87	ILF	iShares Latin America	Pair Corr
0.78	RCGE	RockCreek Global Equality	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	-0.14	0.27	0.06	-0.43	0.16	0.07	0.17	0.26	META
MSFT	-0.01		0.72	-0.56	0.12	0.38	0.49	0.03	-0.76	-0.75	MSFT
UBER	-0.14	0.72		-0.49	0.25	0.53	0.11	-0.15	-0.76	-0.53	UBER
F	0.27	-0.56	-0.49		-0.44	-0.29	-0.03	0.37	0.69	0.66	F
T	0.06	0.12	0.25	-0.44		0.38	-0.32	-0.33	-0.32	-0.25	T
A	-0.43	0.38	0.53	-0.29	0.38		-0.02	-0.07	-0.36	-0.57	A
CRM	0.16	0.49	0.11	-0.03	-0.32	-0.02		0.66	-0.16	-0.54	CRM
JPM	0.07	0.03	-0.15	0.37	-0.33	-0.07	0.66		0.29	-0.12	JPM
MRK	0.17	-0.76	-0.76	0.69	-0.32	-0.36	-0.16	0.29		0.68	MRK
XOM	0.26	-0.75	-0.53	0.66	-0.25	-0.57	-0.54	-0.12	0.68		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

UBER	+ 0.72	MSFT
MRK	+ 0.69	F
XOM	+ 0.68	MRK
XOM	+ 0.66	F
JPM	+ 0.66	CRM
A	+ 0.53	UBER

High negative correlations

MRK	- 0.76	UBER
MRK	- 0.76	MSFT
XOM	- 0.75	MSFT
XOM	- 0.57	A
F	- 0.56	MSFT
XOM	- 0.54	CRM

WEBs Defined Competition Risk-Adjusted Indicators

There is a big difference between WEBs Etf performing well and WEBs Defined 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 WEBs Defined'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	1.63	(0.12)	0.00	(0.07)	0.00	0.00	3.43	(2.72)	13.36
MSFT	1.22	(0.37)	0.00	(2.30)	0.00	0.00	1.78	(2.70)	13.28
UBER	1.46	(0.27)	0.00	(0.31)	0.00	0.00	2.46	(3.82)	10.23
F	1.23	0.05	0.04	0.09	1.22	(1.46)	3.38	(2.35)	7.16
T	0.96	0.04	0.01	0.21	1.04	(1.02)	1.85	(1.85)	3.77
A	1.20	(0.17)	0.00	(0.08)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.31)	0.00	(0.26)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	0.02	(0.02)	(0.11)	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.23	0.52	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.10	0.29	0.19	15.60	1.03	(1.26)	2.38	(2.11)	5.82

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