Alerian Energy Correlations

ENFR Etf

USD 29.57 0.67 2.32%

The current 90-days correlation between Alerian Energy Infra and Global X MLP is 0.02 (i.e., Significant diversification). The correlation of Alerian Energy 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.

Alerian Energy Correlation With Market

Significant diversification

The correlation between Alerian Energy Infrastructure and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alerian Energy Infrastructure and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Alerian Energy 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 Alerian Etf

0.95	EMLP	First Trust North	Pair Corr
0.69	MLPA	Global X MLP	Pair Corr
0.85	MLPX	Global X MLP	Pair Corr
0.97	TPYP	Tortoise North American	Pair Corr
0.78	AMZA	InfraCap MLP ETF	Pair Corr
0.63	MLPB	UBS AG London	Pair Corr
0.84	ATMP	Barclays ETN Select	Pair Corr
0.75	AMUB	UBS AG London	Pair Corr
0.71	XTOC	Innovator ETFs Trust	Pair Corr
0.68	QTAP	Innovator Growth 100	Pair Corr
0.7	XTJA	Innovator ETFs Trust	Pair Corr
0.71	XTAP	Innovator Equity Acc	Pair Corr

Moving against Alerian Etf

0.59	SPXU	ProShares UltraPro Short Trending	Pair Corr
0.48	BSV	Vanguard Short Term	Pair Corr
0.46	GBIL	Goldman Sachs Access	Pair Corr
0.37	IBND	SPDR Bloomberg Inter	Pair Corr
0.74	UVXY	ProShares Ultra VIX Trending	Pair Corr
0.59	SDS	ProShares UltraShort Aggressive Push	Pair Corr
0.45	SGOV	iShares 0 3	Pair Corr
0.4	ISTB	iShares Core 1	Pair Corr
0.38	IBDR	iShares iBonds Dec	Pair Corr
0.35	EMTY	ProShares Decline	Pair Corr
0.34	GLDM	SPDR Gold MiniShares	Pair Corr
0.33	PHYS	Sprott Physical Gold	Pair Corr

Related Correlations Analysis

	MLPX	TPYP	EMLP	MLPA	ATMP
MLPX		0.82	0.83	0.8	0.95	MLPX
TPYP	0.82		0.95	0.66	0.8	TPYP
EMLP	0.83	0.95		0.79	0.86	EMLP
MLPA	0.8	0.66	0.79		0.89	MLPA
ATMP	0.95	0.8	0.86	0.89		ATMP
	MLPX	TPYP	EMLP	MLPA	ATMP

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Alerian Energy Constituents Risk-Adjusted Indicators

There is a big difference between Alerian Etf performing well and Alerian Energy 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 Alerian Energy'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
MLPX	1.37	(0.02)	(0.11)	2.46	(2.93)	12.22
TPYP	1.15	(0.04)	(0.90)	2.20	(2.08)	10.39
EMLP	0.94	(0.03)	(0.42)	1.84	(1.81)	8.41
MLPA	1.11	(0.01)	(0.10)	1.86	(2.92)	8.15
ATMP	1.30	0.02	(0.06)	2.17	(3.17)	10.94

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