LG Clean Correlations

Etfs . Switzerland . 
Etf . LG Clean Water
GLUG Etf  CHF 17.56  0.03  0.17%   
The current 90-days correlation between LG Clean Water and UBS ETF SMIM is -0.08 (i.e., Good diversification). The correlation of LG Clean 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.

LG Clean Correlation With Market

Very poor diversification

The correlation between LG Clean Water and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LG Clean Water and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to LG Clean could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LG Clean when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back LG Clean - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling LG Clean Water to buy it.

Moving together with GLUG Etf

  0.87IH2O iShares Global WaterPairCorr
  0.81LYWAT Lyxor MSCI WaterPairCorr
  0.92CSNKY iShares VII PLCPairCorr
  0.89EIMI iShares Core MSCIPairCorr
  0.9DJSXE iShares Core EUROPairCorr
  0.9S2HGBA UBSFund Solutions MSCIPairCorr
  0.65IECH iShares Core CorpPairCorr
  0.87ISWD iShares MSCI WorldPairCorr
  0.94SJPA iShares Core MSCIPairCorr
  0.92IDP6 iShares SP SmallCapPairCorr
  0.95ISJP iShares MSCI JapanPairCorr
  0.85RGLDS Raiffeisen ETF SolidPairCorr
  0.87PAEU Invesco MSCI EuropePairCorr
  0.83GGMUSY UBS ETF plcPairCorr
  0.88AUHEUA UBS ETF plcPairCorr
  0.93SHEME UBSFund SolutionsPairCorr
  0.93XMEX Xtrackers MSCI MexicoPairCorr
  0.9IKOR iShares MSCI KoreaPairCorr
  0.64EMLC VanEck JP MorganPairCorr
  0.84ZGLDHE ZKB Gold ETFPairCorr
  0.9IWDP iShares Developed MarketsPairCorr
  0.89XMME Xtrackers MSCI EmergingPairCorr
  0.93XLIS Invesco IndustrialsPairCorr
  0.67MDAXEX iShares MDAX UCITSPairCorr
  0.94JPHG Amundi Index SolutionsPairCorr
  0.84EMHD Invesco FTSE EmergingPairCorr
  0.79XSLI Xtrackers SLI UCITSPairCorr
  0.88EUREUA UBS Core MSCIPairCorr
  0.81CBMDAX Amundi Index SolutionsPairCorr
  0.83RS2K Amundi Index SolutionsPairCorr

Moving against GLUG Etf

  0.37IEAC iShares Core CorpPairCorr

Related Correlations Analysis


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

WCOS
+ 0.94
IH2O
SMMCHA
+ 0.93
CBMDAX
SMMCHA
+ 0.89
GLUG
WCOS
+ 0.88
GLUG
GLUG
+ 0.87
IH2O
IBZL
+ 0.86
SX7EEX
  

High negative correlations

ZGLDGB
- 0.07
VWRL

LG Clean Constituents Risk-Adjusted Indicators

There is a big difference between GLUG Etf performing well and LG Clean 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 LG Clean'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
IH2O  0.56  0.10 (0.01)(0.51) 0.68 
(0.63)
 1.66 
(1.09)
 3.63 
LYWAT  1.02  0.06  0.02  0.17  1.94 
(1.18)
 1.97 
(1.60)
 18.00 
GLUG  0.63  0.13  0.06  0.61  0.68 
(0.75)
 1.43 
(1.51)
 4.14 
VWRL  0.54  0.04 (0.07) 8.60  0.63 
(0.56)
 0.92 
(1.07)
 2.85 
WCOS  0.57  0.17  0.13  5.33  0.24 
(0.73)
 1.83 
(0.92)
 4.06 
ZGLDGB  1.51  0.36  0.00  0.71  0.00 
 0.00 
 0.75 
(0.34)
 41.03 
SX7EEX  1.03  0.15  0.05  0.78  1.32 
(1.09)
 1.85 
(2.33)
 6.27 
CBMDAX  0.46  0.10  0.01  1.32  0.48 
(0.73)
 1.29 
(1.65)
 3.29 
IBZL  0.01  0.00  0.00  1.02  0.00 
 0.00 
 0.00 
 0.00 
 0.33 
SMMCHA  0.47  0.13  0.05 (12.18) 0.44 
(0.52)
 1.05 
(1.17)
 3.11 

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