Essential Correlations

ESN Etf

18.18 0.11 0.61%

The current 90-days correlation between Essential 40 Stock and SPDR SP 600 is 0.82 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Essential moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Essential 40 Stock moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Essential Correlation With Market

Almost no diversification

The correlation between Essential 40 Stock and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Essential 40 Stock and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Essential Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Essential 40 Stock. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Essential Etf

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

Moving against Essential Etf

0.8	HPQ	HP Inc Aggressive Push	Pair Corr
0.4	MMM	3M Company	Pair Corr

Related Correlations Analysis

	CGXU	DFLV	PVAL	JHMM	FENI	VMIAX	BBEU	DXJ	IHI	SLYV
CGXU		0.89	0.86	0.9	0.95	0.91	0.93	0.87	-0.38	0.86	CGXU
DFLV	0.89		0.99	0.98	0.98	0.98	0.98	0.96	-0.22	0.97	DFLV
PVAL	0.86	0.99		0.97	0.96	0.96	0.97	0.95	-0.18	0.96	PVAL
JHMM	0.9	0.98	0.97		0.96	0.97	0.96	0.95	-0.2	0.99	JHMM
FENI	0.95	0.98	0.96	0.96		0.97	0.99	0.94	-0.34	0.94	FENI
VMIAX	0.91	0.98	0.96	0.97	0.97		0.97	0.97	-0.29	0.96	VMIAX
BBEU	0.93	0.98	0.97	0.96	0.99	0.97		0.94	-0.27	0.94	BBEU
DXJ	0.87	0.96	0.95	0.95	0.94	0.97	0.94		-0.24	0.95	DXJ
IHI	-0.38	-0.22	-0.18	-0.2	-0.34	-0.29	-0.27	-0.24		-0.22	IHI
SLYV	0.86	0.97	0.96	0.99	0.94	0.96	0.94	0.95	-0.22		SLYV
	CGXU	DFLV	PVAL	JHMM	FENI	VMIAX	BBEU	DXJ	IHI	SLYV

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PVAL	+ 0.99	DFLV
SLYV	+ 0.99	JHMM
BBEU	+ 0.99	FENI
JHMM	+ 0.98	DFLV
FENI	+ 0.98	DFLV
VMIAX	+ 0.98	DFLV

High negative correlations

IHI	- 0.38	CGXU
IHI	- 0.34	FENI
IHI	- 0.29	VMIAX
IHI	- 0.27	BBEU
IHI	- 0.24	DXJ
SLYV	- 0.22	IHI

Essential Constituents Risk-Adjusted Indicators

There is a big difference between Essential Etf performing well and Essential 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 Essential'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
CGXU	0.79	0.03	0.02	0.08	1.01	(0.79)	1.56	(2.00)	4.37
DFLV	0.58	0.12	0.17	0.19	0.41	(0.66)	1.39	(1.18)	3.09
PVAL	0.54	0.13	0.18	0.22	0.38	(0.63)	1.33	(1.11)	3.41
JHMM	0.65	0.07	0.08	0.13	0.67	(0.68)	1.59	(1.44)	3.56
FENI	0.59	0.11	0.13	0.21	0.55	(0.66)	1.26	(1.17)	2.87
VMIAX	0.85	0.23	0.25	0.27	0.58	(1.00)	2.11	(1.59)	4.72
BBEU	0.63	0.10	0.11	0.18	0.56	(0.70)	1.23	(1.16)	3.13
DXJ	0.71	0.22	0.19	0.39	0.58	(0.77)	1.77	(1.56)	4.81
IHI	0.73	(0.11)	0.00	(0.13)	0.00	0.00	1.42	(1.31)	4.45
SLYV	0.88	0.13	0.14	0.16	0.76	(1.08)	2.27	(1.81)	5.07

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