Pacer Developed Correlations

ICOW Etf

29.01 0.05 0.17%

The correlation of Pacer Developed 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Pacer Developed Correlation With Market

Very poor diversification

The correlation between Pacer Developed Markets and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacer Developed Markets and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Pacer Developed could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pacer Developed 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 Pacer Developed - 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 Pacer Developed Markets to buy it.

Moving together with Pacer Etf

0.88	EMIM	iShares Core MSCI	Pair Corr
0.8	VWRL	Vanguard FTSE All	Pair Corr
0.93	CNYB	iShares China CNY	Pair Corr
0.71	CYBU	iShares China CNY	Pair Corr
0.92	IMEU	iShares Core MSCI	Pair Corr
0.7	IWRD	iShares MSCI World	Pair Corr
0.88	IEMM	iShares MSCI EM	Pair Corr
0.75	JPSR	UBSFund Solutions MSCI	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.47	-0.53	0.48	0.19	-0.59	-0.09	0.33	0.51	0.49	META
MSFT	-0.47		0.75	-0.48	-0.52	0.65	0.75	-0.02	-0.77	-0.88	MSFT
UBER	-0.53	0.75		-0.42	-0.27	0.73	0.39	-0.19	-0.77	-0.68	UBER
F	0.48	-0.48	-0.42		-0.15	-0.35	-0.12	0.38	0.63	0.57	F
T	0.19	-0.52	-0.27	-0.15		-0.19	-0.67	-0.05	0.18	0.41	T
A	-0.59	0.65	0.73	-0.35	-0.19		0.35	-0.12	-0.57	-0.73	A
CRM	-0.09	0.75	0.39	-0.12	-0.67	0.35		0.42	-0.41	-0.75	CRM
JPM	0.33	-0.02	-0.19	0.38	-0.05	-0.12	0.42		0.27	-0.01	JPM
MRK	0.51	-0.77	-0.77	0.63	0.18	-0.57	-0.41	0.27		0.76	MRK
XOM	0.49	-0.88	-0.68	0.57	0.41	-0.73	-0.75	-0.01	0.76		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	+ 0.76	MRK
UBER	+ 0.75	MSFT
CRM	+ 0.75	MSFT
A	+ 0.73	UBER
A	+ 0.65	MSFT
MRK	+ 0.63	F

High negative correlations

XOM	- 0.88	MSFT
MRK	- 0.77	UBER
MRK	- 0.77	MSFT
XOM	- 0.75	CRM
XOM	- 0.73	A
XOM	- 0.68	UBER

Pacer Developed Competition Risk-Adjusted Indicators

There is a big difference between Pacer Etf performing well and Pacer Developed 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 Pacer Developed'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	1.52	0.05	0.01	0.16	1.50	(1.77)	3.43	(2.67)	13.69
MSFT	1.34	(0.33)	0.00	(0.70)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.46	(0.39)	0.00	(0.62)	0.00	0.00	2.41	(3.82)	11.09
F	1.17	(0.01)	(0.01)	0.08	1.19	(1.42)	3.38	(2.35)	7.16
T	0.95	0.17	0.10	1.80	0.82	(1.08)	2.02	(1.54)	5.31
A	1.22	(0.29)	0.00	(0.16)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.68	(0.48)	0.00	(0.34)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.21	(0.08)	(0.02)	0.03	1.66	(1.26)	2.34	(3.11)	7.38
MRK	1.31	0.49	0.32	1.17	0.99	(1.62)	3.59	(1.98)	8.09
XOM	1.17	0.44	0.27	3.48	0.92	(1.39)	2.69	(2.11)	5.85

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

2x Long Berkshire 3x Long NIO iShares SP 500 iShares MSCI USA Hydratec Industries NV iShares Property Yield BlackRock ESG Multi Asset Aalberts Industries NV iShares Asia Pacific Value8 NV American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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