AdvisorShares Trust Correlations

The current 90-days correlation between AdvisorShares Trust and SPDR MSCI USA is 0.57 (i.e., Very weak diversification). The correlation of AdvisorShares Trust 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.

AdvisorShares Trust Correlation With Market

Very weak diversification

The correlation between AdvisorShares Trust and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvisorShares Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AdvisorShares 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 nation.

Moving together with AdvisorShares Etf

0.63	XLI	Industrial Select Sector	Pair Corr
0.77	ITA	iShares Aerospace Defense	Pair Corr
0.94	VIS	Vanguard Industrials	Pair Corr
0.84	PPA	Invesco Aerospace Defense	Pair Corr
0.94	FIDU	Fidelity MSCI Industrials	Pair Corr
0.76	SHLD	Global X Defense	Pair Corr
0.91	SWP	SWP Growth Income	Pair Corr
0.72	FNGD	MicroSectors FANG Index	Pair Corr
0.83	DFSD	Dimensional ETF Trust	Pair Corr
0.85	DOGG	First Trust Exchange	Pair Corr
0.93	CHPS	Xtrackers Semiconductor	Pair Corr
0.87	ESML	iShares ESG Aware	Pair Corr
0.9	IRTR	iShares Trust	Pair Corr
0.75	XYLD	Global X SP	Pair Corr
0.92	EMES	Harbor ETF Trust	Pair Corr
0.69	EWT	iShares MSCI Taiwan	Pair Corr
0.93	TERG	Leverage Shares 2X	Pair Corr
0.63	QLV	FlexShares Quality Low	Pair Corr
0.84	FPXE	First Trust IPOX	Pair Corr
0.67	SCDV	ETF Series Solutions	Pair Corr
0.64	NBCE	Neuberger Berman ETF	Pair Corr
0.93	FNDC	Schwab Fundamental	Pair Corr
0.78	BSMS	Invesco BulletShares 2028	Pair Corr
0.78	WDNA	WisdomTree BioRevolution	Pair Corr
0.72	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.63	DBA	Invesco DB Agriculture	Pair Corr

Moving against AdvisorShares Etf

0.49	HUM	Humana Inc	Pair Corr
0.36	IND	Xtrackers Nifty 500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

AdvisorShares Trust Competition Risk-Adjusted Indicators

There is a big difference between AdvisorShares Etf performing well and AdvisorShares Trust 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 AdvisorShares Trust'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	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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