AdvisorShares Restaurant Correlations

EATZ Etf

USD 27.00 0.53 1.93%

The current 90-days correlation between AdvisorShares Restaurant and Litman Gregory Funds is 0.28 (i.e., Modest diversification). The correlation of AdvisorShares Restaurant 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.

AdvisorShares Restaurant Correlation With Market

Very poor diversification

The correlation between AdvisorShares Restaurant ETF and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvisorShares Restaurant ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AdvisorShares Etf

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

Moving together with AdvisorShares Etf

0.7	XLY	Consumer Discretionary	Pair Corr
0.76	VCR	Vanguard Consumer	Pair Corr
0.77	ITB	iShares Home Construction	Pair Corr
0.76	FDIS	Fidelity MSCI Consumer	Pair Corr
0.8	XHB	SPDR SP Homebuilders	Pair Corr
0.77	IYC	iShares Consumer Dis	Pair Corr
0.78	PEJ	Invesco Dynamic Leisure	Pair Corr
0.94	FXD	First Trust Consumer	Pair Corr
0.94	XRT	SPDR SP Retail	Pair Corr
0.72	MUU	Direxion Daily MU	Pair Corr
0.72	MULL	GraniteShares 2x Long	Pair Corr
0.66	AGQ	ProShares Ultra Silver	Pair Corr
0.83	JNUG	Direxion Daily Junior	Pair Corr
0.78	GDXU	MicroSectors Gold Miners	Pair Corr
0.7	KORU	Direxion Daily South	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.71	SHNY	Microsectors Gold	Pair Corr
0.86	SIL	Global X Silver	Pair Corr
0.8	SIVR	abrdn Physical Silver	Pair Corr
0.87	DDLS	WisdomTree Dynamic	Pair Corr
0.85	BBEU	JPMorgan BetaBuilders	Pair Corr
0.93	AHYB	American Century ETF	Pair Corr
0.62	THD	iShares MSCI Thailand	Pair Corr
0.65	BND	Vanguard Total Bond	Pair Corr
0.87	YLD	Principal Active High	Pair Corr
0.85	IBMR	iShares Trust	Pair Corr
0.61	STXT	EA Series Trust	Pair Corr
0.9	MART	Allianzim Large Cap	Pair Corr
0.81	DBJP	Xtrackers MSCI Japan	Pair Corr
0.85	EDEN	iShares MSCI Denmark	Pair Corr
0.91	VBK	Vanguard Small Cap	Pair Corr
0.91	GAPR	First Trust Exchange	Pair Corr
0.77	IAUM	iShares Gold Trust	Pair Corr
0.94	SPMD	SPDR Russell Small	Pair Corr
0.8	ABI	VictoryShares Pioneer	Pair Corr
0.95	OASC	OneAscent Small Cap	Pair Corr
0.85	GSIG	Goldman Sachs Access	Pair Corr
0.87	BINC	BlackRock ETF Trust	Pair Corr

Moving against AdvisorShares Etf

0.74

RCD

Ready Capital

Pair Corr

Related Correlations Analysis

	BEDZ	KPRO	THNR	ION	CDIG	MCHS	CRED	HVAC	GEND	PCEM
BEDZ		-0.36	0.53	0.54	0.6	0.38	0.13	0.25	0.46	0.46	BEDZ
KPRO	-0.36		-0.74	-0.81	-0.61	-0.77	-0.59	-0.68	-0.75	-0.84	KPRO
THNR	0.53	-0.74		0.88	0.63	0.7	0.42	0.6	0.71	0.79	THNR
ION	0.54	-0.81	0.88		0.8	0.83	0.49	0.72	0.76	0.9	ION
CDIG	0.6	-0.61	0.63	0.8		0.75	0.46	0.74	0.65	0.78	CDIG
MCHS	0.38	-0.77	0.7	0.83	0.75		0.77	0.93	0.93	0.97	MCHS
CRED	0.13	-0.59	0.42	0.49	0.46	0.77		0.82	0.73	0.69	CRED
HVAC	0.25	-0.68	0.6	0.72	0.74	0.93	0.82		0.88	0.89	HVAC
GEND	0.46	-0.75	0.71	0.76	0.65	0.93	0.73	0.88		0.92	GEND
PCEM	0.46	-0.84	0.79	0.9	0.78	0.97	0.69	0.89	0.92		PCEM
	BEDZ	KPRO	THNR	ION	CDIG	MCHS	CRED	HVAC	GEND	PCEM

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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

PCEM	+ 0.97	MCHS
HVAC	+ 0.93	MCHS
GEND	+ 0.93	MCHS
PCEM	+ 0.92	GEND
PCEM	+ 0.9	ION
PCEM	+ 0.89	HVAC

High negative correlations

PCEM	- 0.84	KPRO
ION	- 0.81	KPRO
MCHS	- 0.77	KPRO
GEND	- 0.75	KPRO
THNR	- 0.74	KPRO
HVAC	- 0.68	KPRO

AdvisorShares Restaurant Constituents Risk-Adjusted Indicators

There is a big difference between AdvisorShares Etf performing well and AdvisorShares Restaurant 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 AdvisorShares Restaurant'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
BEDZ	1.01	(0.02)	(0.01)	0.05	1.10	(1.18)	2.54	(2.29)	5.98
KPRO	0.38	(0.12)	0.00	(0.45)	0.00	0.00	0.78	(0.70)	7.61
THNR	0.87	0.14	0.10	0.26	1.01	(0.89)	1.74	(2.17)	5.68
ION	1.99	0.50	0.18	0.61	2.40	(2.28)	4.19	(3.83)	14.01
CDIG	1.12	(0.03)	(0.01)	0.05	1.55	(1.09)	2.49	(2.42)	5.97
MCHS	0.91	0.24	0.20	0.79	0.65	(1.04)	2.41	(1.44)	4.72
CRED	0.62	0.04	0.00	0.17	0.74	(0.63)	1.29	(1.17)	3.23
HVAC	1.47	0.07	0.05	0.13	1.94	(1.45)	2.61	(3.79)	7.78
GEND	0.59	0.15	0.18	0.29	0.46	(0.68)	1.35	(0.99)	3.40
PCEM	0.83	0.21	0.18	0.38	0.74	(0.93)	2.13	(1.62)	4.31

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