Russell Equity Correlations

EQIN Etf

51.41 0.12 0.23%

The current 90-days correlation between Russell Equity Income and ProShares Ultra Russell2000 is 0.68 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Russell Equity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Russell Equity Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Russell Equity Correlation With Market

Almost no diversification

The correlation between Russell Equity Income and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Russell Equity Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Russell Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Russell Equity Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Russell Etf

0.99	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.97	VYM	Vanguard High Dividend Sell-off Trend	Pair Corr
0.98	IWD	iShares Russell 1000 Sell-off Trend	Pair Corr
0.98	DGRO	iShares Core Dividend Sell-off Trend	Pair Corr
0.98	IVE	iShares SP 500	Pair Corr
0.98	SPYV	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.98	IUSV	iShares Core SP	Pair Corr
0.96	NOBL	ProShares SP 500	Pair Corr
0.98	FNDX	Schwab Fundamental Large Sell-off Trend	Pair Corr
0.97	VLUE	iShares MSCI USA	Pair Corr
0.81	TOT	Advisor Managed Port	Pair Corr
0.79	SHLD	Global X Defense	Pair Corr
0.68	LUX	Tema Global	Pair Corr
0.86	FB	ProShares Trust ProShares	Pair Corr
0.93	SWP	SWP Growth Income	Pair Corr
0.8	FNGD	MicroSectors FANG Index	Pair Corr
0.87	CALY	Callaway Golf Symbol Change	Pair Corr
0.81	VBK	Vanguard Small Cap	Pair Corr
0.92	RDIV	Invesco SP Ultra	Pair Corr
0.92	AHYB	American Century ETF	Pair Corr
0.95	BINC	BlackRock ETF Trust	Pair Corr
0.87	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.87	MRK	Merck Company	Pair Corr
0.62	KO	Coca Cola Earnings Call This Week	Pair Corr
0.96	DD	Dupont De Nemours	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr
0.76	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.86	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.71	HD	Home Depot	Pair Corr
0.79	INTC	Intel	Pair Corr
0.89	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Russell Etf

0.78	HPQ	HP Inc Aggressive Push	Pair Corr
0.34	MMM	3M Company	Pair Corr

Related Correlations Analysis

	PAPI	OAIM	HOLA	BUSA	FPAG	BKGI	TPSC	BINT	CVIE	UWM
PAPI		0.95	0.9	0.94	0.93	0.93	0.95	0.93	0.94	0.86	PAPI
OAIM	0.95		0.97	0.96	0.97	0.9	0.94	0.99	0.99	0.88	OAIM
HOLA	0.9	0.97		0.97	0.98	0.82	0.94	0.97	0.98	0.9	HOLA
BUSA	0.94	0.96	0.97		0.98	0.82	0.97	0.95	0.96	0.92	BUSA
FPAG	0.93	0.97	0.98	0.98		0.83	0.97	0.97	0.98	0.95	FPAG
BKGI	0.93	0.9	0.82	0.82	0.83		0.82	0.9	0.9	0.71	BKGI
TPSC	0.95	0.94	0.94	0.97	0.97	0.82		0.93	0.94	0.96	TPSC
BINT	0.93	0.99	0.97	0.95	0.97	0.9	0.93		1.0	0.9	BINT
CVIE	0.94	0.99	0.98	0.96	0.98	0.9	0.94	1.0		0.9	CVIE
UWM	0.86	0.88	0.9	0.92	0.95	0.71	0.96	0.9	0.9		UWM
	PAPI	OAIM	HOLA	BUSA	FPAG	BKGI	TPSC	BINT	CVIE	UWM

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Russell Equity Constituents Risk-Adjusted Indicators

There is a big difference between Russell Etf performing well and Russell Equity 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 Russell Equity'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
PAPI	0.52	0.14	0.19	0.34	0.11	(0.62)	1.43	(0.74)	2.85
OAIM	0.58	0.15	0.18	0.35	0.28	(0.71)	1.35	(1.05)	3.51
HOLA	0.46	0.07	0.04	0.23	0.41	(0.49)	0.93	(0.92)	2.58
BUSA	0.58	0.12	0.17	0.24	0.26	(0.70)	1.46	(1.01)	3.31
FPAG	0.65	0.08	0.08	0.17	0.63	(0.68)	1.39	(1.45)	3.79
BKGI	0.45	0.12	0.11	0.51	0.22	(0.55)	1.18	(0.76)	2.28
TPSC	0.71	0.08	0.10	0.17	0.55	(0.85)	2.13	(1.32)	4.41
BINT	0.55	0.08	0.07	0.19	0.56	(0.58)	1.24	(1.23)	2.95
CVIE	0.64	0.13	0.13	0.24	0.63	(0.70)	1.37	(1.37)	2.94
UWM	1.83	0.05	0.07	0.10	2.12	(1.84)	3.88	(3.67)	9.10

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