Multi Units Correlations

INRL Etf

2,268 18.37 0.82%

The correlation of Multi Units 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.

Multi Units Correlation With Market

Good diversification

The correlation between Multi Units France and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Units France and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Multi Etf

0.93	D26G	ISHARES V PLC	Pair Corr
0.9	HEDG	WisdomTree Issuer ICAV	Pair Corr
0.87	HYEM	VanEck Emerging Markets	Pair Corr
0.87	FEUI	Fidelity Europe Quality	Pair Corr
0.87	FEQP	Fidelity Europe Quality	Pair Corr
0.85	100D	MULTI UNITS LUXEMBOURG	Pair Corr
0.82	AIGC	WisdomTree Broad Com	Pair Corr
0.82	FXGB	First Trust Global	Pair Corr
0.79	LCFE	WisdomTree Coffee	Pair Corr
0.77	KWBE	KraneShares CSI China	Pair Corr
0.76	TINF	Tabula Enhanced Infla	Pair Corr
0.73	EMVL	iShares Edge MSCI	Pair Corr
0.7	INFU	Lyxor 10Y Inflation	Pair Corr
0.69	EABE	Amundi MSCI Europe	Pair Corr
0.64	CHIN	KraneShares ICBCCS	Pair Corr
0.64	EMLP	PIMCO ETFs plc	Pair Corr
0.6	2JPM	Leverage Shares 2x	Pair Corr
0.58	TIPS	SSgA SPDR ETFs	Pair Corr
0.55	3LFB	GraniteShares 3x Long	Pair Corr
0.46	FMTV	Fidelity Metaverse UCITS	Pair Corr
0.4	PAL3	GraniteShares 3x Long	Pair Corr
0.39	3PLT	Leverage Shares 3x	Pair Corr
0.39	FHYP	Fidelity Sustainable	Pair Corr
0.87	XDBG	Xtrackers Bloomberg	Pair Corr
0.87	GBSP	WisdomTree Physical Gold	Pair Corr
0.82	ENCO	LG Multi Strategy	Pair Corr
0.81	UD04	UBSFund Solutions Factor	Pair Corr
0.81	JUKC	JPMorgan ETFs ICAV	Pair Corr
0.8	STHE	PIMCO Short Term	Pair Corr
0.71	EUXS	iShares MSCI Europe	Pair Corr
0.71	0XCK	Multi Units France	Pair Corr
0.69	FGQP	Fidelity Global Qual	Pair Corr
0.68	PLAY	ISHARES IV PLC	Pair Corr
0.67	BGX	Expat Bulgaria SOFIX	Pair Corr
0.61	TIPU	Lyxor TIPS DR	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.47	0.62	-0.54	0.66	0.29	0.09	0.88	-0.84	-0.07	META
MSFT	-0.47		-0.64	0.56	-0.7	0.39	0.57	-0.46	0.63	0.05	MSFT
UBER	0.62	-0.64		-0.3	0.77	-0.16	-0.58	0.67	-0.73	0.42	UBER
F	-0.54	0.56	-0.3		-0.39	0.21	-0.06	-0.4	0.67	0.56	F
T	0.66	-0.7	0.77	-0.39		-0.33	-0.37	0.55	-0.73	0.08	T
A	0.29	0.39	-0.16	0.21	-0.33		0.47	0.43	0.04	0.07	A
CRM	0.09	0.57	-0.58	-0.06	-0.37	0.47		-0.04	0.16	-0.45	CRM
JPM	0.88	-0.46	0.67	-0.4	0.55	0.43	-0.04		-0.78	0.12	JPM
MRK	-0.84	0.63	-0.73	0.67	-0.73	0.04	0.16	-0.78		0.05	MRK
XOM	-0.07	0.05	0.42	0.56	0.08	0.07	-0.45	0.12	0.05		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

JPM	+ 0.88	META
T	+ 0.77	UBER
JPM	+ 0.67	UBER
MRK	+ 0.67	F
T	+ 0.66	META
MRK	+ 0.63	MSFT

High negative correlations

MRK	- 0.84	META
MRK	- 0.78	JPM
MRK	- 0.73	T
MRK	- 0.73	UBER
T	- 0.7	MSFT
UBER	- 0.64	MSFT

Multi Units Competition Risk-Adjusted Indicators

There is a big difference between Multi Etf performing well and Multi Units 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 Multi Units' 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	1.49	0.23	0.13	0.20	1.76	(1.45)	3.22	(2.31)	7.11
MSFT	1.05	(0.05)	0.00	(0.19)	0.00	0.00	2.56	(2.14)	10.31
UBER	1.90	0.16	0.07	0.37	2.78	(1.88)	4.72	(3.13)	12.28
F	1.38	(0.15)	0.00	(2.09)	0.00	0.00	2.55	(2.89)	10.14
T	1.03	0.21	0.19	6.93	1.36	(1.13)	1.90	(1.97)	11.66
A	1.14	(0.11)	0.00	0.36	0.00	0.00	2.81	(2.53)	9.03
CRM	1.32	(0.30)	0.00	(0.39)	0.00	0.00	1.77	(2.95)	8.88
JPM	0.98	0.07	0.00	(0.01)	0.00	0.00	1.97	(1.98)	6.85
MRK	1.23	0.00	0.00	0.00	0.00	0.00	2.15	(2.24)	11.57
XOM	0.97	(0.08)	0.00	(0.28)	0.00	0.00	1.92	(2.50)	5.89

Be your own money manager

Our tools can tell you how much better you can do entering a position in Multi Units 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.

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