VegTech Correlations
| EATV Etf | USD 15.46 0.00 0.00% |
The correlation of VegTech 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.
VegTech Correlation With Market
Excellent diversification
The correlation between VegTech and DJI is -0.51 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VegTech and DJI in the same portfolio, assuming nothing else is changed.
Moving against VegTech Etf
| 0.64 | SVIX | 1x Short VIX | PairCorr |
| 0.63 | FXB | Invesco CurrencyShares | PairCorr |
| 0.61 | YLDE | ClearBridge Dividend | PairCorr |
| 0.6 | CPST | Calamos ETF Trust | PairCorr |
| 0.49 | TMSL | T Rowe Price | PairCorr |
| 0.48 | JPUS | JPMorgan Diversified | PairCorr |
| 0.48 | GAA | Cambria Global Asset | PairCorr |
| 0.43 | PBJ | Invesco Dynamic Food | PairCorr |
| 0.42 | ITDD | iShares Trust | PairCorr |
| 0.42 | ITDJ | iShares Trust | PairCorr |
| 0.38 | FTW | EQV Ventures Acquisition Symbol Change | PairCorr |
| 0.38 | FFOX | FundX Investment Trust | PairCorr |
| 0.34 | KXI | iShares Global Consumer | PairCorr |
| 0.32 | EXI | iShares Global Indus | PairCorr |
| 0.31 | RHS | Invesco SP 500 | PairCorr |
| 0.75 | DHLX | Diamond Hill Funds | PairCorr |
| 0.7 | EMHY | iShares JP Morgan | PairCorr |
| 0.7 | DPST | Direxion Daily Regional | PairCorr |
| 0.69 | SCIO | First Trust Structured | PairCorr |
| 0.67 | BMN | Blackrock 2037 Municipal | PairCorr |
| 0.67 | XMAR | First Trust Exchange | PairCorr |
| 0.66 | CPSR | Calamos SP 500 | PairCorr |
| 0.65 | SPVU | Invesco SP 500 | PairCorr |
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
| High negative correlations
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VegTech Constituents Risk-Adjusted Indicators
There is a big difference between VegTech Etf performing well and VegTech 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 VegTech'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IVLC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BOSS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DBJA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TDSA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PLTL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| JULD | 0.42 | 0.03 | (0.01) | 1.30 | 0.93 | 1.90 | 6.68 | |||
| ZZZ | 0.62 | 0.11 | 0.04 | (0.77) | 0.73 | 1.44 | 3.45 | |||
| HVAL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BFTR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ROCI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
VegTech Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with VegTech etf to make a market-neutral strategy. Peer analysis of VegTech could also be used in its relative valuation, which is a method of valuing VegTech by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |