ETRACS Monthly Correlations

HDLB Etf

USD 15.62 0.26 1.69%

The current 90-days correlation between ETRACS Monthly Pay and ETRACS 2xMonthly Pay is -0.05 (i.e., Good diversification). The correlation of ETRACS Monthly 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.

ETRACS Monthly Correlation With Market

Significant diversification

The correlation between ETRACS Monthly Pay and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETRACS Monthly Pay and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ETRACS Monthly Pay. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with ETRACS Etf

0.65	UYG	ProShares Ultra Fina	Pair Corr
0.63	GDXU	MicroSectors Gold Miners	Pair Corr
0.68	KO	Coca Cola	Pair Corr
0.86	DD	Dupont De Nemours	Pair Corr
0.64	T	ATT Inc Aggressive Push	Pair Corr
0.67	XOM	Exxon Mobil Corp	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr

Moving against ETRACS Etf

0.51	WTID	UBS ETRACS Trending	Pair Corr
0.36	FNGU	MicroSectors FANG Index	Pair Corr
0.35	PFE	Pfizer Inc	Pair Corr
0.34	BA	Boeing	Pair Corr

Related Correlations Analysis

	SMHB	PFFL	MVRL	CEFD	BDCX
SMHB		0.78	0.6	0.61	0.19	SMHB
PFFL	0.78		0.28	0.25	-0.19	PFFL
MVRL	0.6	0.28		0.76	0.69	MVRL
CEFD	0.61	0.25	0.76		0.74	CEFD
BDCX	0.19	-0.19	0.69	0.74		BDCX
	SMHB	PFFL	MVRL	CEFD	BDCX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PFFL	+ 0.78	SMHB
CEFD	+ 0.76	MVRL
BDCX	+ 0.74	CEFD
BDCX	+ 0.69	MVRL
CEFD	+ 0.61	SMHB
MVRL	+ 0.6	SMHB

High negative correlations

BDCX

- 0.19

PFFL

ETRACS Monthly Constituents Risk-Adjusted Indicators

There is a big difference between ETRACS Etf performing well and ETRACS Monthly 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 ETRACS Monthly'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
SMHB	1.65	0.03	0.01	0.00	2.25	(1.72)	3.66	(3.94)	10.16
PFFL	1.06	(0.02)	0.00	(0.07)	0.00	0.00	2.22	(2.67)	8.33
MVRL	1.24	0.15	0.11	(1.53)	1.50	(1.33)	2.78	(2.32)	6.39
CEFD	0.64	0.05	0.06	0.06	0.98	(0.62)	1.25	(1.29)	4.34
BDCX	0.83	0.14	0.15	1.58	0.93	(1.00)	1.80	(1.38)	7.04

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC