Humankind Investments Correlations

HKND Etf

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The current 90-days correlation between Humankind Investments and Innovator Russell 2000 is 0.01 (i.e., Significant diversification). The correlation of Humankind Investments 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.

Humankind Investments Correlation With Market

Poor diversification

The correlation between Humankind Investments and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Humankind Investments and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Humankind Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Humankind Etf

0.76	VTV	Vanguard Value Index	Pair Corr
0.7	VYM	Vanguard High Dividend	Pair Corr
0.79	IWD	iShares Russell 1000	Pair Corr
0.74	DGRO	iShares Core Dividend Sell-off Trend	Pair Corr
0.77	IVE	iShares SP 500 Sell-off Trend	Pair Corr
0.77	IUSV	iShares Core SP Sell-off Trend	Pair Corr
0.76	FNDX	Schwab Fundamental Large Sell-off Trend	Pair Corr
0.79	VLUE	iShares MSCI USA	Pair Corr
0.64	SIXD	AIM ETF Products	Pair Corr
0.77	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.71	MEXX	Direxion Daily MSCI Downward Rally	Pair Corr
0.76	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.71	AUMI	Themes Gold Miners	Pair Corr
0.76	CCNR	CoreCommodity Natural	Pair Corr
0.65	GOCT	FT Cboe Vest	Pair Corr
0.76	DISV	Dimensional ETF Trust	Pair Corr
0.76	DXJ	WisdomTree Japan Hedged	Pair Corr
0.81	AHYB	American Century ETF	Pair Corr
0.68	ERET	iShares Environmentally	Pair Corr
0.61	IJS	iShares SP Small	Pair Corr
0.67	FIEE	FiEE Inc Symbol Change	Pair Corr
0.66	LALT	Invesco Multi Strategy	Pair Corr
0.76	DFE	WisdomTree Europe	Pair Corr
0.71	DIA	SPDR Dow Jones Sell-off Trend	Pair Corr
0.76	UEVM	VictoryShares Emerging	Pair Corr

Moving against Humankind Etf

0.54	VXX	iPath Series B	Pair Corr
0.53	VIXY	ProShares VIX Short	Pair Corr
0.5	PLTI	REX ETF Trust	Pair Corr

Related Correlations Analysis

	TMFM	MGMT	PTIN	IBUY	AESR	ESN	ADPV	WTMF	SELV	KJUL
TMFM		-0.66	-0.6	0.94	-0.13	-0.59	-0.12	-0.17	-0.81	-0.52	TMFM
MGMT	-0.66		0.72	-0.66	0.4	0.78	0.5	0.52	0.84	0.94	MGMT
PTIN	-0.6	0.72		-0.58	0.22	0.96	0.78	0.76	0.61	0.64	PTIN
IBUY	0.94	-0.66	-0.58		-0.17	-0.55	-0.08	-0.18	-0.79	-0.53	IBUY
AESR	-0.13	0.4	0.22	-0.17		0.19	0.14	0.18	0.31	0.45	AESR
ESN	-0.59	0.78	0.96	-0.55	0.19		0.81	0.73	0.59	0.65	ESN
ADPV	-0.12	0.5	0.78	-0.08	0.14	0.81		0.78	0.23	0.44	ADPV
WTMF	-0.17	0.52	0.76	-0.18	0.18	0.73	0.78		0.35	0.55	WTMF
SELV	-0.81	0.84	0.61	-0.79	0.31	0.59	0.23	0.35		0.81	SELV
KJUL	-0.52	0.94	0.64	-0.53	0.45	0.65	0.44	0.55	0.81		KJUL
	TMFM	MGMT	PTIN	IBUY	AESR	ESN	ADPV	WTMF	SELV	KJUL

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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

ESN	+ 0.96	PTIN
IBUY	+ 0.94	TMFM
KJUL	+ 0.94	MGMT
SELV	+ 0.84	MGMT
ADPV	+ 0.81	ESN
KJUL	+ 0.81	SELV

High negative correlations

SELV	- 0.81	TMFM
SELV	- 0.79	IBUY
IBUY	- 0.66	MGMT
MGMT	- 0.66	TMFM
PTIN	- 0.6	TMFM
ESN	- 0.59	TMFM

Humankind Investments Constituents Risk-Adjusted Indicators

There is a big difference between Humankind Etf performing well and Humankind Investments 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 Humankind Investments' 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
TMFM	0.96	(0.07)	0.00	0.33	0.00	0.00	1.75	(2.39)	5.67
MGMT	0.81	0.17	0.08	(0.54)	0.80	(0.96)	2.12	(1.55)	5.41
PTIN	0.57	0.29	0.26	(1.93)	0.25	(0.67)	1.50	(1.09)	3.32
IBUY	0.98	(0.17)	0.00	0.88	0.00	0.00	1.76	(2.87)	5.90
AESR	1.31	0.18	0.02	(0.74)	3.63	(1.29)	1.30	(1.68)	42.89
ESN	0.46	0.15	0.11	(1.10)	0.35	(0.52)	1.03	(0.88)	2.60
ADPV	1.17	0.20	0.09	3.49	1.33	(1.25)	2.23	(2.33)	7.48
WTMF	0.50	0.05	0.01	0.17	0.59	(0.55)	1.22	(0.88)	4.09
SELV	0.38	0.09	0.02	(0.57)	0.41	(0.41)	0.82	(0.71)	2.56
KJUL	0.28	0.05	(0.06)	(1.02)	0.17	(0.32)	0.57	(0.46)	1.77

Humankind Investments 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 Humankind Investments etf to make a market-neutral strategy. Peer analysis of Humankind Investments could also be used in its relative valuation, which is a method of valuing Humankind Investments by comparing valuation metrics with similar companies.

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