SMI 3Fourteen Correlations

FCTE Etf

27.42 0.33 1.22%

The current 90-days correlation between SMI 3Fourteen Full and FT Vest Equity is 0.22 (i.e., Modest diversification). The correlation of SMI 3Fourteen 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.

SMI 3Fourteen Correlation With Market

Significant diversification

The correlation between SMI 3Fourteen Full Cycle and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SMI 3Fourteen Full Cycle 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 SMI 3Fourteen Full Cycle. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with SMI Etf

0.75	VIG	Vanguard Dividend	Pair Corr
0.78	RSP	Invesco SP 500	Pair Corr
0.72	DFAC	Dimensional Core Equity	Pair Corr
0.67	UPRO	ProShares UltraPro SP500	Pair Corr
0.75	CAT	Caterpillar Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV
DHDG		0.83	0.35	0.66	0.13	0.96	0.97	-0.94	0.88	DHDG
MBCC	0.83		0.56	0.25	0.56	0.71	0.73	-0.92	0.72	MBCC
DIHP	0.35	0.56		-0.06	0.6	0.26	0.26	-0.39	0.24	DIHP
DJAN	0.66	0.25	-0.06		-0.42	0.82	0.81	-0.44	0.67	DJAN
MDLV	0.13	0.56	0.6	-0.42		-0.01	0.0	-0.34	0.02	MDLV
DJUL	0.96	0.71	0.26	0.82	-0.01		1.0	-0.86	0.87	DJUL
DJUN	0.97	0.73	0.26	0.81	0.0	1.0		-0.87	0.88	DJUN
SH	-0.94	-0.92	-0.39	-0.44	-0.34	-0.86	-0.87		-0.81	SH
VV	0.88	0.72	0.24	0.67	0.02	0.87	0.88	-0.81		VV
	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV

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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

DJUN	+ 1.0	DJUL
DJUN	+ 0.97	DHDG
DJUL	+ 0.96	DHDG
VV	+ 0.88	DHDG
VV	+ 0.88	DJUN
VV	+ 0.87	DJUL

High negative correlations

SH	- 0.94	DHDG
SH	- 0.92	MBCC
SH	- 0.87	DJUN
SH	- 0.86	DJUL
VV	- 0.81	SH
SH	- 0.44	DJAN

SMI 3Fourteen Constituents Risk-Adjusted Indicators

There is a big difference between SMI Etf performing well and SMI 3Fourteen 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 SMI 3Fourteen'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
DHDG	0.38	0.02	(0.06)	0.13	0.48	(0.39)	0.91	(0.86)	3.06
MBCC	0.63	0.02	(0.02)	0.11	0.86	(0.60)	1.15	(1.27)	4.33
DIHP	0.54	(0.03)	(0.09)	(0.03)	0.82	(0.50)	1.06	(1.22)	4.02
DJAN	0.13	0.03	(0.14)	0.69	0.00	(0.15)	0.36	(0.23)	1.26
MDLV	0.54	(0.06)	0.00	(0.10)	0.00	0.00	0.93	(1.13)	2.96
DJUL	0.32	0.02	(0.07)	0.18	0.42	(0.33)	0.69	(0.72)	2.69
DJUN	0.32	0.02	(0.07)	0.15	0.42	(0.33)	0.68	(0.75)	2.84
SH	0.61	(0.02)	0.00	0.12	0.00	0.00	1.44	(1.18)	4.81
VV	0.63	0.07	0.00	(3.59)	0.92	(0.58)	1.26	(1.42)	5.70

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