TrueShares Active Correlations

ERNZ Etf

21.71 0.01 0.05%

The current 90-days correlation between TrueShares Active Yield and Goldman Sachs MarketBeta is -0.16 (i.e., Good 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

Very poor diversification

The correlation between TrueShares Active Yield and DJI is 0.8 (i.e., Very 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 inflation.

Moving together with TrueShares Etf

0.94	ROMO	Strategy Shares Newf	Pair Corr
0.78	INR	Infinity Natural Res	Pair Corr
0.62	VTI	Vanguard Total Stock	Pair Corr
0.76	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.61	TOT	Advisor Managed Port	Pair Corr
0.94	VTV	Vanguard Value Index	Pair Corr
0.87	PIPE	Invesco SteelPath MLP	Pair Corr
0.92	CLOC	ETF Series Solutions	Pair Corr
0.95	IYM	iShares Basic Materials	Pair Corr
0.93	IJK	iShares SP Mid	Pair Corr
0.93	VLU	SPDR SP 1500	Pair Corr
0.87	USRT	iShares Core REIT	Pair Corr
0.84	FOPC	Advisors Inner	Pair Corr
0.95	VFMV	Vanguard Minimum Vol	Pair Corr
0.81	AAAA	Amplius Aggressive Asset	Pair Corr
0.93	ASIA	Matthews International	Pair Corr
0.94	GEND	Spinnaker ETF Series	Pair Corr
0.95	YDEC	First Trust Exchange	Pair Corr
0.84	SMB	VanEck Short Muni	Pair Corr
0.93	FNX	First Trust Mid	Pair Corr
0.78	QTAP	Innovator Growth 100	Pair Corr
0.69	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.85	CLSE	Trust For Professional	Pair Corr
0.86	UCO	ProShares Ultra Bloomberg	Pair Corr
0.94	FNDA	Schwab Fundamental Small	Pair Corr
0.92	GRID	First Trust NASDAQ	Pair Corr
0.89	PFXF	VanEck Preferred Sec	Pair Corr
0.88	DOGG	First Trust Exchange	Pair Corr
0.7	MNZL	Manzil Russell Halal	Pair Corr
0.9	KNGZ	First Trust Exchange	Pair Corr
0.88	LALT	Invesco Multi Strategy	Pair Corr
0.86	ENFR	Alerian Energy Infra	Pair Corr
0.95	EDGI	Advisors Inner	Pair Corr
0.94	WEEI	Westwood Salient Enhanced	Pair Corr
0.95	HFMF	Unlimited HFMF Managed	Pair Corr

Moving against TrueShares Etf

0.58

VUG

Vanguard Growth Index

Pair Corr

Related Correlations Analysis

	VSMV	PIE	IEZ	DEW	BSMC	MBOX	EMMF	SNOV	FAB	GSEE
VSMV		0.93	0.92	0.94	0.98	0.97	0.95	0.92	0.97	0.94	VSMV
PIE	0.93		0.97	0.95	0.94	0.96	0.97	0.81	0.92	0.96	PIE
IEZ	0.92	0.97		0.97	0.94	0.96	0.96	0.77	0.93	0.97	IEZ
DEW	0.94	0.95	0.97		0.96	0.97	0.94	0.78	0.97	0.94	DEW
BSMC	0.98	0.94	0.94	0.96		0.99	0.96	0.9	0.99	0.95	BSMC
MBOX	0.97	0.96	0.96	0.97	0.99		0.97	0.87	0.98	0.95	MBOX
EMMF	0.95	0.97	0.96	0.94	0.96	0.97		0.85	0.93	0.98	EMMF
SNOV	0.92	0.81	0.77	0.78	0.9	0.87	0.85		0.88	0.82	SNOV
FAB	0.97	0.92	0.93	0.97	0.99	0.98	0.93	0.88		0.92	FAB
GSEE	0.94	0.96	0.97	0.94	0.95	0.95	0.98	0.82	0.92		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	0.08	0.08	0.23	0.24	(0.52)	1.01	(0.67)	2.57
PIE	0.81	0.21	0.15	0.44	0.78	(0.89)	2.06	(1.17)	5.79
IEZ	1.43	0.55	0.29	25.42	1.16	(1.73)	3.98	(2.27)	8.43
DEW	0.44	0.17	0.24	0.44	0.00	(0.52)	1.19	(0.64)	2.47
BSMC	0.65	0.15	0.23	0.27	0.12	(0.79)	1.83	(0.90)	3.83
MBOX	0.57	0.07	0.08	0.19	0.40	(0.65)	1.19	(0.95)	3.69
EMMF	0.60	0.17	0.18	0.42	0.34	(0.72)	1.69	(0.91)	3.44
SNOV	0.44	0.04	(0.01)	0.16	0.35	(0.49)	1.15	(0.71)	3.38
FAB	0.67	0.13	0.18	0.25	0.33	(0.82)	2.09	(1.10)	4.04
GSEE	0.70	0.25	0.18	(2.22)	0.41	(0.82)	1.84	(1.00)	4.32

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