Exchange Traded Correlations

Etfs . USA . 
Etf . Exchange Traded Concepts
INDF Etf  USD 34.18  0.13  0.38%   
The current 90-days correlation between Exchange Traded Concepts and VanEck India Growth is 0.67 (i.e., Poor diversification). The correlation of Exchange Traded 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.

Exchange Traded Correlation With Market

Weak diversification

The correlation between Exchange Traded Concepts and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Exchange Traded Concepts 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 Exchange Traded Concepts. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Exchange Etf

  0.98INDA iShares MSCI IndiaPairCorr
  0.99EPI WisdomTree India EarningsPairCorr
  0.8INDSX Financial Investors TrustPairCorr
  0.89SMIN iShares MSCI IndiaPairCorr
  0.98PIN Invesco India ETFPairCorr
  0.98FLIN Franklin FTSE IndiaPairCorr
  0.91GLIN VanEck India GrowthPairCorr
  0.95NFTY First Trust IndiaPairCorr
  0.71SNPD DBX ETF TrustPairCorr
  0.88GREI Goldman Sachs FuturePairCorr
  0.68HPQ HP IncPairCorr
  0.78DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.62AA Alcoa CorpPairCorr
  0.77MCD McDonalds Earnings Call This WeekPairCorr

Moving against Exchange Etf

  0.78IXSE IXSEPairCorr
  0.49EOS Eaton Vance EnhancedPairCorr
  0.65JPM JPMorgan ChasePairCorr
  0.59CSCO Cisco SystemsPairCorr
  0.56AXP American ExpressPairCorr
  0.52BA BoeingPairCorr
  0.46GE GE AerospacePairCorr
  0.36WMT Walmart Aggressive PushPairCorr

Related Correlations Analysis

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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   
FLIN
+ 0.96
GLIN
INCO
+ 0.94
FLIN
NFTY
+ 0.94
INCO
INCO
+ 0.92
GLIN
NFTY
+ 0.92
FLIN
NFTY
+ 0.84
GLIN
  
High negative correlations   
IXSE
- 0.88
NFTY
IXSE
- 0.85
INCO
IXSE
- 0.74
FLIN
IXSE
- 0.7
GLIN

Exchange Traded Constituents Risk-Adjusted Indicators

There is a big difference between Exchange Etf performing well and Exchange Traded 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 Exchange Traded'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.

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