BetaPro Crude Correlations
| HOD Etf | CAD 5.20 0.05 0.97% |
The current 90-days correlation between BetaPro Crude Oil and BetaPro Crude Oil is -1.0 (i.e., Pay attention - limited upside). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BetaPro Crude moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro Crude Oil moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
BetaPro Crude Correlation With Market
Average diversification
The correlation between BetaPro Crude Oil and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BetaPro Crude Oil and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to BetaPro Crude could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BetaPro Crude 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 BetaPro Crude - 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 BetaPro Crude Oil to buy it.
Moving against BetaPro Etf
| 0.97 | HOU | BetaPro Crude Oil | PairCorr |
| 0.82 | HNU | BetaPro Natural Gas | PairCorr |
| 0.38 | ZSP | BMO SP 500 | PairCorr |
| 0.88 | HSAV | Global X Cash | PairCorr |
| 0.75 | MNY | Purpose Cash Management | PairCorr |
| 0.58 | HRAA | Global X ReSolve | PairCorr |
| 0.57 | CMAG | CI Munro Alternative | PairCorr |
| 0.56 | MCSB | Mackenzie Canadian Short | PairCorr |
| 0.56 | EIT-PB | Canoe EIT Income | PairCorr |
| 0.44 | ZNQ | BMO NASDAQ 100 | PairCorr |
| 0.42 | FBTC | Fidelity Advantage | PairCorr |
| 0.38 | VFV | Vanguard SP 500 | PairCorr |
| 0.38 | BTCY | Purpose Bitcoin Yield | PairCorr |
| 0.37 | BTCC | Purpose Bitcoin CAD | PairCorr |
| 0.76 | HRED | BetaPro Equal Weight | PairCorr |
| 0.75 | CASH | GLOBAL X HIGH | PairCorr |
| 0.66 | TBCF | TD Target 2026 | PairCorr |
| 0.54 | ZPAY | BMO Premium Yield | PairCorr |
Related Correlations Analysis
| -0.7 | 0.79 | -0.17 | -0.07 | HOU | ||
| -0.7 | -0.93 | -0.21 | 0.49 | HND | ||
| 0.79 | -0.93 | 0.1 | -0.34 | HNU | ||
| -0.17 | -0.21 | 0.1 | -0.93 | HGD | ||
| -0.07 | 0.49 | -0.34 | -0.93 | HGU | ||
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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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BetaPro Crude Constituents Risk-Adjusted Indicators
There is a big difference between BetaPro Etf performing well and BetaPro Crude 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 BetaPro Crude'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HOU | 2.48 | 0.36 | 0.10 | (0.76) | 2.93 | 6.02 | 15.31 | |||
| HND | 6.68 | (1.06) | 0.00 | (5.46) | 0.00 | 14.95 | 47.33 | |||
| HNU | 6.61 | 1.00 | 0.10 | (5.38) | 8.53 | 12.97 | 44.94 | |||
| HGD | 3.11 | 0.02 | 0.00 | 0.09 | 4.20 | 6.19 | 22.25 | |||
| HGU | 3.15 | (0.03) | 0.00 | 0.12 | 0.00 | 7.39 | 22.14 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in BetaPro Crude without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Fundamental AnalysisView fundamental data based on most recent published financial statements |
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