Nicholas Fixed Correlations

FIAX Etf

17.77 0.08 0.45%

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 0.85 (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

0.73	UCON	First Trust TCW	Pair Corr
0.7	AMAX	Starboard Investment	Pair Corr
0.85	HYTR	Northern Lights	Pair Corr
0.64	INR	Infinity Natural Res	Pair Corr
0.79	VTI	Vanguard Total Stock	Pair Corr
0.78	SPY	SPDR SP 500	Pair Corr
0.78	IVV	iShares Core SP	Pair Corr
0.78	TOT	Advisor Managed Port	Pair Corr
0.77	VTV	Vanguard Value Index	Pair Corr
0.75	FTCS	First Trust Capital	Pair Corr
0.62	ERET	iShares Environmentally	Pair Corr
0.81	HEFA	iShares Currency Hedged	Pair Corr
0.81	FNK	First Trust Mid	Pair Corr
0.63	COMB	GraniteShares Bloomberg	Pair Corr
0.63	EUSB	iShares Trust	Pair Corr
0.7	DRVN	Driven Brands Holdings	Pair Corr
0.85	DIA	SPDR Dow Jones	Pair Corr
0.69	GLD	SPDR Gold Shares Aggressive Push	Pair Corr
0.71	ASEA	Global X FTSE	Pair Corr
0.83	ITDD	iShares Trust	Pair Corr
0.72	AUMI	Themes Gold Miners	Pair Corr
0.82	BDEC	Innovator SP 500	Pair Corr
0.8	LQDW	iShares Trust	Pair Corr
0.7	IEMG	iShares Core MSCI Aggressive Push	Pair Corr
0.79	DWM	WisdomTree International	Pair Corr
0.68	UEVM	VictoryShares Emerging	Pair Corr
0.68	URA	Global X Uranium	Pair Corr
0.77	RHRX	Starboard Investment	Pair Corr
0.85	RSST	Return Stacked Stocks	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.19	-0.24	0.32	0.11	-0.36	-0.02	0.33	0.25	0.29	META
MSFT	-0.19		0.83	-0.6	-0.83	0.78	0.9	0.22	-0.89	-0.94	MSFT
UBER	-0.24	0.83		-0.54	-0.72	0.84	0.71	0.07	-0.8	-0.82	UBER
F	0.32	-0.6	-0.54		0.29	-0.52	-0.39	0.15	0.75	0.66	F
T	0.11	-0.83	-0.72	0.29		-0.6	-0.83	-0.23	0.67	0.72	T
A	-0.36	0.78	0.84	-0.52	-0.6		0.63	0.09	-0.72	-0.83	A
CRM	-0.02	0.9	0.71	-0.39	-0.83	0.63		0.49	-0.75	-0.87	CRM
JPM	0.33	0.22	0.07	0.15	-0.23	0.09	0.49		0.04	-0.2	JPM
MRK	0.25	-0.89	-0.8	0.75	0.67	-0.72	-0.75	0.04		0.9	MRK
XOM	0.29	-0.94	-0.82	0.66	0.72	-0.83	-0.87	-0.2	0.9		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

CRM	+ 0.9	MSFT
XOM	+ 0.9	MRK
A	+ 0.84	UBER
UBER	+ 0.83	MSFT
A	+ 0.78	MSFT
MRK	+ 0.75	F

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.89	MSFT
XOM	- 0.87	CRM
XOM	- 0.83	A
CRM	- 0.83	T
T	- 0.83	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	1.51	0.04	0.02	0.14	1.52	(1.74)	3.43	(2.81)	13.69
MSFT	1.31	(0.38)	0.00	(0.81)	0.00	0.00	1.90	(2.87)	13.28
UBER	1.61	(0.41)	0.00	(0.51)	0.00	0.00	2.46	(4.25)	11.09
F	1.28	0.06	0.05	0.15	1.17	(1.56)	3.61	(2.30)	7.50
T	1.03	0.18	0.07	(1.54)	0.92	(1.20)	3.87	(1.76)	7.44
A	1.26	(0.32)	0.00	(0.19)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.74	(0.43)	0.00	(0.29)	0.00	0.00	3.22	(4.75)	12.37
JPM	1.24	(0.15)	(0.05)	0.00	1.80	(1.29)	2.34	(3.11)	8.17
MRK	1.23	0.33	0.22	0.56	0.99	(1.40)	2.81	(1.98)	8.74
XOM	1.31	0.35	0.18	3.10	1.14	(1.50)	2.90	(2.44)	6.83

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