TrueShares Active Correlations

ERNZ Etf

21.32 0.07 0.33%

The current 90-days correlation between TrueShares Active Yield and Goldman Sachs MarketBeta is 0.42 (i.e., Very weak diversification). The correlation of TrueShares Active 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.

TrueShares Active Correlation With Market

Poor diversification

The correlation between TrueShares Active Yield and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TrueShares Active Yield and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TrueShares Etf

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

Moving together with TrueShares Etf

0.9	ROMO	Strategy Shares Newf	Pair Corr
0.75	SIXD	AIM ETF Products	Pair Corr
0.77	AHYB	American Century ETF	Pair Corr
0.85	SYLD	Cambria Shareholder Yield Low Volatility	Pair Corr
0.69	SEIX	Virtus ETF Trust	Pair Corr
0.77	JULW	AIM ETF Products	Pair Corr
0.82	BBEU	JPMorgan BetaBuilders	Pair Corr
0.91	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	RDIV	Invesco SP Ultra	Pair Corr
0.86	SPMD	SPDR Russell Small	Pair Corr
0.87	STXK	EA Series Trust	Pair Corr
0.87	EEMA	iShares MSCI Emerging	Pair Corr
0.71	GSIG	Goldman Sachs Access	Pair Corr
0.73	PWV	Invesco Dynamic Large	Pair Corr
0.82	ABI	VictoryShares Pioneer	Pair Corr
0.85	IAUM	iShares Gold Trust	Pair Corr
0.86	YLD	Principal Active High	Pair Corr
0.75	BHYB	Xtrackers USD High	Pair Corr
0.76	OASC	OneAscent Small Cap	Pair Corr
0.84	EDEN	iShares MSCI Denmark	Pair Corr
0.66	RSPH	Invesco SP 500	Pair Corr
0.87	DDLS	WisdomTree Dynamic	Pair Corr
0.79	EATZ	AdvisorShares Restaurant	Pair Corr
0.84	SFEB	FT Vest Small	Pair Corr
0.86	DBJP	Xtrackers MSCI Japan	Pair Corr
0.86	VBK	Vanguard Small Cap	Pair Corr
0.74	VUSB	Vanguard Ultra Short	Pair Corr
0.83	ISCG	iShares Morningstar	Pair Corr
0.93	XES	SPDR SP Oil	Pair Corr
0.78	THD	iShares MSCI Thailand	Pair Corr
0.72	PQNT	2023 ETF	Pair Corr

Moving against TrueShares Etf

0.65	VIXM	ProShares VIX Mid	Pair Corr
0.65	VXZ	iPath Series B Low Volatility	Pair Corr
0.64	VXX	iPath Series B Low Volatility	Pair Corr
0.64	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.36	PLTI	REX ETF Trust	Pair Corr

Related Correlations Analysis

	VSMV	PIE	IEZ	DEW	BSMC	MBOX	EMMF	SNOV	FAB	GSEE
VSMV		0.82	0.87	0.96	0.98	0.97	0.86	0.83	0.97	0.84	VSMV
PIE	0.82		0.93	0.87	0.85	0.9	0.95	0.79	0.81	0.94	PIE
IEZ	0.87	0.93		0.91	0.9	0.93	0.96	0.78	0.85	0.94	IEZ
DEW	0.96	0.87	0.91		0.95	0.96	0.89	0.75	0.94	0.86	DEW
BSMC	0.98	0.85	0.9	0.95		0.98	0.89	0.86	0.97	0.86	BSMC
MBOX	0.97	0.9	0.93	0.96	0.98		0.93	0.84	0.95	0.89	MBOX
EMMF	0.86	0.95	0.96	0.89	0.89	0.93		0.81	0.83	0.99	EMMF
SNOV	0.83	0.79	0.78	0.75	0.86	0.84	0.81		0.81	0.82	SNOV
FAB	0.97	0.81	0.85	0.94	0.97	0.95	0.83	0.81		0.8	FAB
GSEE	0.84	0.94	0.94	0.86	0.86	0.89	0.99	0.82	0.8		GSEE
	VSMV	PIE	IEZ	DEW	BSMC	MBOX	EMMF	SNOV	FAB	GSEE

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TrueShares Active Constituents Risk-Adjusted Indicators

There is a big difference between TrueShares Etf performing well and TrueShares Active 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 TrueShares Active'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
VSMV	0.45	0.06	0.08	0.13	0.40	(0.51)	1.01	(0.91)	2.56
PIE	0.83	0.08	0.05	0.17	1.06	(0.86)	1.55	(1.81)	5.98
IEZ	1.36	0.33	0.20	0.38	1.42	(1.57)	3.88	(2.46)	8.43
DEW	0.46	0.14	0.23	0.32	0.10	(0.53)	1.15	(0.79)	2.47
BSMC	0.61	0.11	0.14	0.17	0.48	(0.67)	1.82	(0.90)	3.83
MBOX	0.55	0.05	0.07	0.11	0.49	(0.62)	1.12	(0.95)	2.58
EMMF	0.57	0.10	0.13	0.25	0.46	(0.69)	1.55	(1.11)	3.44
SNOV	0.52	(0.01)	(0.03)	0.02	0.76	(0.54)	1.15	(1.57)	3.48
FAB	0.65	0.13	0.14	0.51	0.50	(0.78)	1.88	(1.10)	3.76
GSEE	0.68	0.08	0.07	0.17	0.69	(0.75)	1.54	(1.32)	4.32

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