Nicholas Fixed Correlations

FIAX Etf

17.93 0.04 0.22%

The current 90-days correlation between Nicholas Fixed Income and Essential 40 Stock is 0.46 (i.e., Very weak diversification). The correlation of Nicholas Fixed 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.

Nicholas Fixed Correlation With Market

Very poor diversification

The correlation between Nicholas Fixed Income and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Fixed Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nicholas Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nicholas Fixed 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 nation.

Moving together with Nicholas Etf

0.83	UCON	First Trust TCW	Pair Corr
0.75	VPC	Virtus Private Credit	Pair Corr
0.66	HYIN	WisdomTree Alternative	Pair Corr
0.91	HYTR	Northern Lights	Pair Corr
0.74	GDXU	MicroSectors Gold Miners	Pair Corr
0.64	MUU	Direxion Daily MU Buyout Trend	Pair Corr
0.73	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.65	MULL	GraniteShares 2x Long	Pair Corr
0.77	JNUG	Direxion Daily Junior	Pair Corr
0.76	NUGT	Direxion Daily Gold	Pair Corr
0.69	SHNY	Microsectors Gold	Pair Corr
0.77	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.8	SLVR	Sprott Silver Miners Sell-off Trend	Pair Corr
0.8	IBMQ	iShares Trust	Pair Corr
0.91	SPVM	Invesco SP 500	Pair Corr
0.86	HYUP	Xtrackers High Beta	Pair Corr
0.87	TAXS	Northern Trust Short	Pair Corr
0.72	LIT	Global X Lithium	Pair Corr
0.78	SIVR	abrdn Physical Silver	Pair Corr
0.85	ZVOL	ZVOL	Pair Corr
0.8	MMSD	New York Life	Pair Corr
0.77	MOOD	Relative Sentiment	Pair Corr
0.78	GLDX	USCF Gold Strategy	Pair Corr
0.74	SGOL	abrdn Physical Gold	Pair Corr
0.88	JANH	Innovator Equity Premium	Pair Corr
0.79	GDX	VanEck Gold Miners Aggressive Push	Pair Corr
0.65	EPEM	Harbor ETF Trust	Pair Corr
0.89	DHSB	Strategy Shares	Pair Corr
0.86	LITL	Simplify Exchange Traded	Pair Corr
0.89	IWD	iShares Russell 1000	Pair Corr
0.8	KCE	SPDR SP Capital	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	0.23	-0.16	0.16	-0.11	0.52	-0.05	-0.24	-0.25	META
MSFT	0.54		0.78	-0.54	0.54	0.28	0.35	-0.22	-0.84	-0.72	MSFT
UBER	0.23	0.78		-0.45	0.46	0.51	0.02	-0.36	-0.8	-0.5	UBER
F	-0.16	-0.54	-0.45		-0.69	-0.12	0.09	0.58	0.67	0.59	F
T	0.16	0.54	0.46	-0.69		0.55	-0.13	-0.4	-0.49	-0.66	T
A	-0.11	0.28	0.51	-0.12	0.55		-0.33	-0.24	-0.26	-0.38	A
CRM	0.52	0.35	0.02	0.09	-0.13	-0.33		0.56	-0.11	-0.36	CRM
JPM	-0.05	-0.22	-0.36	0.58	-0.4	-0.24	0.56		0.45	0.1	JPM
MRK	-0.24	-0.84	-0.8	0.67	-0.49	-0.26	-0.11	0.45		0.73	MRK
XOM	-0.25	-0.72	-0.5	0.59	-0.66	-0.38	-0.36	0.1	0.73		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.78	MSFT
XOM	+ 0.73	MRK
MRK	+ 0.67	F
XOM	+ 0.59	F
JPM	+ 0.58	F
JPM	+ 0.56	CRM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.72	MSFT
T	- 0.69	F
XOM	- 0.66	T
F	- 0.54	MSFT

Nicholas Fixed Competition Risk-Adjusted Indicators

There is a big difference between Nicholas Etf performing well and Nicholas Fixed 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 Nicholas Fixed'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
META	1.44	(0.19)	0.00	(0.11)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.05	(0.17)	0.00	(0.45)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.23)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.03	0.04	0.09	1.38	(1.76)	3.38	(2.35)	16.30
T	0.87	(0.14)	0.00	(17.25)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.11)	0.00	(0.19)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.47	(0.27)	0.00	(0.18)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.12	(0.08)	(0.02)	0.02	1.70	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.27	0.19	0.45	1.11	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.39	0.95	(1.26)	2.38	(1.51)	5.82

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