Two Roads Correlations

DYLD Etf

USD 22.61 0.03 0.13%

The current 90-days correlation between Two Roads Shared and KraneShares SSE STAR is 0.2 (i.e., Modest diversification). The correlation of Two Roads 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.

Two Roads Correlation With Market

Very poor diversification

The correlation between Two Roads Shared and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Two Roads Shared and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Two Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Two Roads Shared. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Two Etf

0.86	AXSIX	Axonic Strategic Income	Pair Corr
0.82	AXSAX	Axonic Strategic Income	Pair Corr
0.89	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.87	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.89	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.89	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.91	JPIE	JP Morgan Exchange	Pair Corr
0.9	AFIF	Anfield Universal Fixed	Pair Corr
0.94	MUSI	American Century Mul	Pair Corr
0.92	SIO	Touchstone Strategic	Pair Corr
0.84	EMCB	WisdomTree Emerging	Pair Corr
0.66	PCY	Invesco Emerging Markets	Pair Corr
0.86	WIP	SPDR FTSE International	Pair Corr
0.81	ISHG	iShares 1 3	Pair Corr
0.77	IGOV	iShares International	Pair Corr
0.92	MSTI	Madison ETFs Trust	Pair Corr
0.86	UMAY	Innovator ETFs Trust	Pair Corr
0.85	CHPS	Xtrackers Semiconductor	Pair Corr
0.85	SCDV	ETF Series Solutions	Pair Corr
0.81	TLCI	Touchstone ETF Trust	Pair Corr
0.87	XYLD	Global X SP	Pair Corr
0.83	SIXJ	AIM ETF Products	Pair Corr
0.85	STXE	EA Series Trust	Pair Corr
0.87	GAPR	First Trust Exchange	Pair Corr
0.87	IQSZ	Invesco Actively Managed	Pair Corr
0.86	LVHI	Franklin International	Pair Corr
0.81	AUMI	Themes Gold Miners	Pair Corr
0.82	FB	ProShares Trust ProShares	Pair Corr
0.86	BMVP	Invesco Bloomberg MVP	Pair Corr
0.81	PSFD	Pacer Swan SOS	Pair Corr
0.62	DBA	Invesco DB Agriculture	Pair Corr
0.88	NULV	Nuveen ESG Large	Pair Corr
0.77	DOGG	First Trust Exchange	Pair Corr
0.76	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.89	TAXT	Northern Trust Tax	Pair Corr
0.89	BSMS	Invesco BulletShares 2028	Pair Corr

Related Correlations Analysis

	ADFI	OBND	NMB	CSPF	MUSE	HYRM	ARP	ARCM	OCTT	KSTR
ADFI		0.82	-0.26	0.71	0.2	0.7	0.67	0.69	0.61	0.57	ADFI
OBND	0.82		-0.47	0.94	0.32	0.93	0.91	0.91	0.84	0.82	OBND
NMB	-0.26	-0.47		-0.6	-0.29	-0.54	-0.56	-0.7	-0.35	-0.38	NMB
CSPF	0.71	0.94	-0.6		0.32	0.92	0.95	0.96	0.82	0.87	CSPF
MUSE	0.2	0.32	-0.29	0.32		0.34	0.35	0.34	0.34	0.28	MUSE
HYRM	0.7	0.93	-0.54	0.92	0.34		0.86	0.93	0.92	0.82	HYRM
ARP	0.67	0.91	-0.56	0.95	0.35	0.86		0.91	0.81	0.87	ARP
ARCM	0.69	0.91	-0.7	0.96	0.34	0.93	0.91		0.8	0.81	ARCM
OCTT	0.61	0.84	-0.35	0.82	0.34	0.92	0.81	0.8		0.74	OCTT
KSTR	0.57	0.82	-0.38	0.87	0.28	0.82	0.87	0.81	0.74		KSTR
	ADFI	OBND	NMB	CSPF	MUSE	HYRM	ARP	ARCM	OCTT	KSTR

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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

ARCM	+ 0.96	CSPF
ARP	+ 0.95	CSPF
CSPF	+ 0.94	OBND
HYRM	+ 0.93	OBND
ARCM	+ 0.93	HYRM
HYRM	+ 0.92	CSPF

High negative correlations

ARCM	- 0.7	NMB
CSPF	- 0.6	NMB
ARP	- 0.56	NMB
HYRM	- 0.54	NMB
NMB	- 0.47	OBND
KSTR	- 0.38	NMB

Two Roads Constituents Risk-Adjusted Indicators

There is a big difference between Two Etf performing well and Two Roads 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 Two Roads' 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
ADFI	0.20	0.01	(0.18)	0.32	0.17	(0.24)	0.35	(0.35)	1.06
OBND	0.12	0.01	(0.29)	0.15	0.00	(0.14)	0.27	(0.23)	0.66
NMB	0.28	(0.05)	0.00	(0.30)	0.00	0.00	0.52	(0.60)	1.41
CSPF	0.14	0.02	(0.17)	0.24	0.02	(0.16)	0.31	(0.23)	0.89
MUSE	0.75	0.07	0.00	(0.16)	2.03	(0.73)	1.78	(1.41)	24.42
HYRM	0.15	0.00	(0.23)	0.09	0.09	(0.19)	0.35	(0.22)	1.07
ARP	0.68	0.10	0.06	0.22	1.02	(0.68)	1.56	(1.62)	6.24
ARCM	0.02	0.00	(1.66)	1.02	0.00	(0.03)	0.06	(0.02)	0.18
OCTT	0.35	(0.02)	(0.10)	0.01	0.54	(0.32)	0.62	(1.01)	2.50
KSTR	1.24	0.10	0.04	0.27	1.62	(1.16)	2.15	(2.43)	7.79

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