ALPS Electrification Correlations

ELFY Etf

38.15 0.74 1.90%

The current 90-days correlation between ALPS Electrification and Overlay Shares Hedged is -0.07 (i.e., Good diversification). The correlation of ALPS Electrification 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.

ALPS Electrification Correlation With Market

Poor diversification

The correlation between ALPS Electrification Infrastru and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALPS Electrification Infrastru and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ALPS Etf

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

Moving together with ALPS Etf

0.71	JXI	iShares Global Utilities	Pair Corr
0.68	AGQ	ProShares Ultra Silver	Pair Corr
0.68	USD	ProShares Ultra Semi	Pair Corr
0.7	JNUG	Direxion Daily Junior	Pair Corr
0.72	NUGT	Direxion Daily Gold	Pair Corr
0.74	RDIV	Invesco SP Ultra	Pair Corr
0.74	VBK	Vanguard Small Cap	Pair Corr
0.68	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.83	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.63	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.72	BA	Boeing	Pair Corr
0.78	HD	Home Depot	Pair Corr
0.87	CVX	Chevron Corp	Pair Corr

Moving against ALPS Etf

0.46	FNGO	MicroSectors FANG Index	Pair Corr
0.57	MSFT	Microsoft	Pair Corr
0.41	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	ONLN	PSMD	USAI	REVS	KARS	RFDA	BATT	BLUI	BUL	OVLH
ONLN		0.73	0.34	0.69	0.8	0.77	0.76	0.65	0.8	0.81	ONLN
PSMD	0.73		0.64	0.97	0.67	0.8	0.87	0.87	0.94	0.61	PSMD
USAI	0.34	0.64		0.72	0.45	0.6	0.74	0.79	0.55	0.4	USAI
REVS	0.69	0.97	0.72		0.66	0.82	0.89	0.9	0.93	0.62	REVS
KARS	0.8	0.67	0.45	0.66		0.67	0.87	0.67	0.71	0.6	KARS
RFDA	0.77	0.8	0.6	0.82	0.67		0.81	0.69	0.87	0.89	RFDA
BATT	0.76	0.87	0.74	0.89	0.87	0.81		0.89	0.86	0.66	BATT
BLUI	0.65	0.87	0.79	0.9	0.67	0.69	0.89		0.79	0.51	BLUI
BUL	0.8	0.94	0.55	0.93	0.71	0.87	0.86	0.79		0.7	BUL
OVLH	0.81	0.61	0.4	0.62	0.6	0.89	0.66	0.51	0.7		OVLH
	ONLN	PSMD	USAI	REVS	KARS	RFDA	BATT	BLUI	BUL	OVLH

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ALPS Electrification Constituents Risk-Adjusted Indicators

There is a big difference between ALPS Etf performing well and ALPS Electrification 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 ALPS Electrification'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
ONLN	1.12	(0.07)	0.00	(0.35)	0.00	0.00	1.89	(2.49)	5.61
PSMD	0.19	0.01	(0.09)	0.09	0.19	(0.21)	0.55	(0.34)	1.86
USAI	0.76	0.20	0.16	(2.64)	0.67	(0.88)	1.64	(1.31)	4.09
REVS	0.61	0.07	0.09	0.13	0.52	(0.67)	1.32	(1.17)	2.75
KARS	1.00	(0.06)	0.00	(0.03)	0.00	0.00	2.26	(2.51)	6.31
RFDA	0.45	0.01	(0.05)	0.14	0.64	(0.47)	0.91	(1.23)	3.65
BATT	1.39	0.12	0.06	0.16	2.04	(1.36)	2.91	(3.07)	10.06
BLUI	0.13	0.02	(0.14)	0.19	0.00	(0.15)	0.28	(0.24)	0.83
BUL	0.76	0.07	0.02	0.69	0.91	(0.82)	1.74	(1.73)	4.22
OVLH	0.37	(0.02)	0.00	(1.04)	0.00	0.00	0.73	(0.94)	2.67

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