GREENWICH ASSET Correlations
| GREENWETF | 540.00 59.00 9.85% |
The current 90-days correlation between GREENWICH ASSET ETF and GUINEA INSURANCE PLC is 0.09 (i.e., Significant diversification). The correlation of GREENWICH ASSET 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.
GREENWICH ASSET Correlation With Market
Very good diversification
The correlation between GREENWICH ASSET ETF and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GREENWICH ASSET ETF and DJI in the same portfolio, assuming nothing else is changed.
GREENWICH |
The ability to find closely correlated positions to GREENWICH ASSET could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GREENWICH ASSET 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 GREENWICH ASSET - 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 GREENWICH ASSET ETF to buy it.
Related Correlations Analysis
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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
| High negative correlations
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GREENWICH ASSET Competition Risk-Adjusted Indicators
There is a big difference between GREENWICH Etf performing well and GREENWICH ASSET 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 GREENWICH ASSET'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 | 1.16 | 0.19 | 0.09 | 0.40 | 1.36 | 3.22 | 8.02 | |||
| MSFT | 0.91 | (0.02) | (0.03) | 0.07 | 1.47 | 2.09 | 8.19 | |||
| UBER | 1.65 | (0.12) | 0.00 | (0.02) | 0.00 | 2.69 | 20.10 | |||
| F | 1.44 | (0.18) | 0.00 | (0.01) | 0.00 | 2.53 | 11.21 | |||
| T | 1.00 | 0.29 | 0.16 | (7.31) | 0.90 | 2.65 | 6.59 | |||
| A | 1.17 | (0.08) | 0.00 | (0.07) | 0.00 | 2.71 | 9.02 | |||
| CRM | 1.27 | 0.30 | 0.22 | 0.36 | 1.01 | 3.18 | 9.98 | |||
| JPM | 1.13 | (0.05) | 0.03 | 0.08 | 1.42 | 2.05 | 15.87 | |||
| MRK | 0.93 | (0.24) | 0.00 | (0.97) | 0.00 | 2.00 | 4.89 | |||
| XOM | 0.98 | (0.04) | (0.07) | 0.02 | 1.32 | 2.10 | 5.74 |
GREENWICH ASSET Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with GREENWICH ASSET etf to make a market-neutral strategy. Peer analysis of GREENWICH ASSET could also be used in its relative valuation, which is a method of valuing GREENWICH ASSET by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |