VegTech Correlations

EATV Etf

USD 15.46 0.00 0.00%

The current 90-days correlation between VegTech and Sitka Gold Corp is -0.26 (i.e., Very good diversification). 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 -0.65 (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.

Build AI portfolio with VegTech Etf

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving against VegTech Etf

0.61	EWC	iShares MSCI Canada	Pair Corr
0.6	PSL	Invesco DWA Consumer	Pair Corr
0.59	TOT	Advisor Managed Port	Pair Corr
0.58	OIH	VanEck Oil Services	Pair Corr
0.57	BST	BlackRock Science Tech	Pair Corr
0.55	XLP	Consumer Staples Select	Pair Corr
0.55	PBJ	Invesco Dynamic Food	Pair Corr
0.54	VDC	Vanguard Consumer Staples	Pair Corr
0.52	FSTA	Fidelity MSCI Consumer	Pair Corr
0.52	FXG	First Trust Consumer	Pair Corr
0.51	KXI	iShares Global Consumer	Pair Corr
0.5	IYK	iShares Consumer Staples	Pair Corr
0.5	RHS	Invesco SP 500	Pair Corr
0.48	FTXG	First Trust Nasdaq	Pair Corr
0.48	WTMF	WisdomTree Managed	Pair Corr
0.75	UAUG	Innovator Equity Ultra	Pair Corr
0.74	EAFG	Pacer Funds Trust	Pair Corr
0.69	AHYB	American Century ETF	Pair Corr
0.69	IYM	iShares Basic Materials	Pair Corr
0.68	ILOW	AB Active ETFs	Pair Corr
0.67	DWM	WisdomTree International	Pair Corr
0.67	FNX	First Trust Mid	Pair Corr
0.64	CNAV	Mohr Company	Pair Corr
0.63	GSG	iShares SP GSCI	Pair Corr
0.57	GRID	First Trust NASDAQ	Pair Corr
0.52	VFMV	Vanguard Minimum Vol	Pair Corr
0.51	USO	United States Oil	Pair Corr
0.48	UCO	ProShares Ultra Bloomberg	Pair Corr
0.48	DOGG	First Trust Exchange	Pair Corr
0.44	MNZL	Manzil Russell Halal	Pair Corr
0.39	FOPC	Advisors Inner	Pair Corr
0.81	CLOC	ETF Series Solutions	Pair Corr
0.76	CLSE	Trust For Professional	Pair Corr
0.7	IOCT	Innovator ETFs Trust	Pair Corr
0.69	YDEC	First Trust Exchange	Pair Corr
0.68	KNGZ	First Trust Exchange	Pair Corr
0.68	FTCS	First Trust Capital	Pair Corr

Related Correlations Analysis

	RGI	RTM	JKH	MSTSX	LBHIX	VIASP	RRTLX	WQTM	OSHDF	SITKF
RGI		0.26	0.83	0.78	0.83	0.89	0.88	0.1	0.0	-0.07	RGI
RTM	0.26		0.07	0.19	0.2	0.25	0.25	-0.31	0.0	0.19	RTM
JKH	0.83	0.07		0.7	0.69	0.75	0.78	0.42	0.0	0.03	JKH
MSTSX	0.78	0.19	0.7		0.83	0.9	0.97	0.31	0.0	-0.11	MSTSX
LBHIX	0.83	0.2	0.69	0.83		0.9	0.87	0.3	0.0	-0.28	LBHIX
VIASP	0.89	0.25	0.75	0.9	0.9		0.94	0.27	0.0	-0.23	VIASP
RRTLX	0.88	0.25	0.78	0.97	0.87	0.94		0.28	0.0	-0.1	RRTLX
WQTM	0.1	-0.31	0.42	0.31	0.3	0.27	0.28		0.0	-0.09	WQTM
OSHDF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	OSHDF
SITKF	-0.07	0.19	0.03	-0.11	-0.28	-0.23	-0.1	-0.09	0.0		SITKF
	RGI	RTM	JKH	MSTSX	LBHIX	VIASP	RRTLX	WQTM	OSHDF	SITKF

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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

RRTLX	+ 0.97	MSTSX
RRTLX	+ 0.94	VIASP
VIASP	+ 0.9	MSTSX
VIASP	+ 0.9	LBHIX
VIASP	+ 0.89	RGI
RRTLX	+ 0.88	RGI

High negative correlations

WQTM	- 0.31	RTM
SITKF	- 0.28	LBHIX
SITKF	- 0.23	VIASP
SITKF	- 0.11	MSTSX
SITKF	- 0.1	RRTLX
SITKF	- 0.09	WQTM

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
RGI	0.73	0.20	0.16	(0.93)	0.75	(0.80)	1.41	(1.65)	4.44
RTM	1,809	913.85	46.77	9.65	0.00	(1,639)	2.53	(1.66)	60,603
JKH	0.72	0.06	0.02	(0.19)	0.83	(0.72)	1.32	(1.52)	5.03
MSTSX	0.61	0.18	0.23	0.28	0.29	(0.72)	0.91	(0.89)	12.34
LBHIX	0.12	0.03	0.01	0.37	0.00	(0.22)	0.24	(0.17)	2.15
VIASP	0.30	0.03	(0.01)	(21.68)	0.32	(0.33)	0.64	(0.70)	1.72
RRTLX	0.26	0.05	0.08	0.20	0.09	(0.33)	0.47	(0.46)	3.36
WQTM	1.69	0.04	0.03	0.06	1.98	(1.70)	3.22	(3.22)	9.00
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SITKF	2.68	0.16	0.04	0.16	2.96	(3.49)	7.81	(5.88)	17.28

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.

Invesco SP 500 Invesco SP 500 iShares Morningstar Mid Cap Morningstar Unconstrained Allocation Thrivent High Yield Via Renewables T Rowe Price WisdomTree Quantum Computing Oshidori International Holdings Sitka Gold Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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