Wahed FTSE Correlations

Etfs . USA . 
Etf . Wahed FTSE USA
HLAL Etf  USD 53.72  0.47  0.88%   
The current 90-days correlation between Wahed FTSE USA and SP Funds SP is 0.95 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Wahed FTSE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wahed FTSE USA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Wahed FTSE Correlation With Market

Poor diversification

The correlation between Wahed FTSE USA 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 Wahed FTSE USA 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 Wahed FTSE USA. 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 Wahed Etf

  0.94VTI Vanguard Total StockPairCorr
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  0.94VV Vanguard Large CapPairCorr
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  0.94IWB iShares Russell 1000PairCorr
  0.95ESGU iShares ESG AwarePairCorr
  0.94DFAC Dimensional Core EquityPairCorr
  0.95SPLG SPDR Portfolio SPPairCorr
  0.74DSJA DSJAPairCorr
  0.71RSPY Tuttle Capital ManagementPairCorr
  0.67MEME Roundhill InvestmentsPairCorr
  0.66ITWO Proshares Russell 2000PairCorr
  0.95ITDD iShares TrustPairCorr
  0.73BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
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  0.88CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
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  0.75WMT Walmart Aggressive PushPairCorr
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  0.85AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
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  0.88AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.79CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.65T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr

Moving against Wahed Etf

  0.71JNJ Johnson Johnson Sell-off TrendPairCorr
  0.59KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.53PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr

Related Correlations Analysis

Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.

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