KraneShares Correlations

KCNY Etf

USD 30.69 0.00 0.00%

The current 90-days correlation between KraneShares and iShares JP Morgan is -0.13 (i.e., Good diversification). The correlation of KraneShares 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.

KraneShares Correlation With Market

Significant diversification

The correlation between KraneShares and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KraneShares and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation 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 board of governors.

Moving together with KraneShares Etf

0.77	LEMB	iShares JP Morgan	Pair Corr
0.82	FEMB	First Trust Emerging	Pair Corr
0.69	CBON	VanEck China Bond	Pair Corr
1.0	KBND	KBND	Pair Corr
0.78	CEW	WisdomTree Emerging	Pair Corr
0.67	NRGU	Bank Of Montreal	Pair Corr

Moving against KraneShares Etf

0.89	OLO	Olo Inc	Pair Corr
0.83	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.73	SGG	Barclays Capital	Pair Corr
0.67	YCS	ProShares UltraShort Yen	Pair Corr
0.64	TBT	ProShares UltraShort	Pair Corr
0.63	TMV	Direxion Daily 20 Sell-off Trend	Pair Corr
0.62	MLPR	ETRACS Quarterly Pay	Pair Corr
0.6	AMZA	InfraCap MLP ETF	Pair Corr
0.51	DAPP	VanEck Digital Trans	Pair Corr
0.92	SEIX	Virtus ETF Trust	Pair Corr
0.89	XONE	Bondbloxx Bloomberg One	Pair Corr
0.89	BILS	SPDR Series Trust	Pair Corr
0.85	STK	Columbia Seligman Premium	Pair Corr
0.85	XDEC	First Trust Exchange	Pair Corr
0.83	PBDC	Putnam ETF Trust	Pair Corr
0.79	VUG	Vanguard Growth Index	Pair Corr
0.77	PTNQ	Pacer Trendpilot 100	Pair Corr
0.75	QQQ	Invesco QQQ Trust Aggressive Push	Pair Corr
0.73	MMLG	First Trust Exchange	Pair Corr
0.7	GDXD	MicroSectors Gold Miners	Pair Corr
0.68	XOUT	GraniteShares XOUT Large	Pair Corr
0.57	IGV	iShares Expanded Tech	Pair Corr
0.54	IAI	iShares Broker Dealers	Pair Corr
0.43	GSG	iShares SP GSCI	Pair Corr
0.33	BNO	United States Brent	Pair Corr
0.89	FNGS	MicroSectors FANG ETN	Pair Corr
0.89	ICSH	iShares Ultra Short	Pair Corr
0.88	YEAR	AB Ultra Short	Pair Corr
0.86	TSLY	Tidal Trust II	Pair Corr
0.83	BTRN	Global X Funds	Pair Corr
0.83	BTC	Grayscale Bitcoin Mini	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.72	-0.55	-0.58	0.32	0.54	0.53	0.32	-0.05	-0.66	META
MSFT	0.72		-0.54	-0.24	0.57	0.2	0.65	0.27	-0.12	-0.48	MSFT
UBER	-0.55	-0.54		0.62	-0.61	0.0	-0.79	-0.59	0.69	0.81	UBER
F	-0.58	-0.24	0.62		0.0	-0.23	-0.2	-0.06	0.19	0.89	F
T	0.32	0.57	-0.61	0.0		-0.05	0.81	0.63	-0.49	-0.27	T
A	0.54	0.2	0.0	-0.23	-0.05		0.08	0.11	0.41	-0.14	A
CRM	0.53	0.65	-0.79	-0.2	0.81	0.08		0.74	-0.62	-0.46	CRM
JPM	0.32	0.27	-0.59	-0.06	0.63	0.11	0.74		-0.63	-0.28	JPM
MRK	-0.05	-0.12	0.69	0.19	-0.49	0.41	-0.62	-0.63		0.35	MRK
XOM	-0.66	-0.48	0.81	0.89	-0.27	-0.14	-0.46	-0.28	0.35		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	+ 0.89	F
XOM	+ 0.81	UBER
CRM	+ 0.81	T
JPM	+ 0.74	CRM
MSFT	+ 0.72	META
MRK	+ 0.69	UBER

High negative correlations

CRM	- 0.79	UBER
XOM	- 0.66	META
MRK	- 0.63	JPM
MRK	- 0.62	CRM
T	- 0.61	UBER
JPM	- 0.59	UBER

KraneShares Competition Risk-Adjusted Indicators

There is a big difference between KraneShares Etf performing well and KraneShares 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 KraneShares' 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	1.36	0.06	0.04	0.20	1.52	(1.56)	3.43	(3.15)	7.43
MSFT	0.91	0.03	0.02	4.35	1.58	(0.86)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(5.53)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.07)	0.00	(0.19)	0.00	0.00	2.38	(2.81)	11.21
T	0.96	0.06	0.06	0.17	1.12	(1.04)	1.91	(1.84)	7.96
A	1.18	0.02	0.01	0.04	1.46	(1.29)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.11	0.94	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.01	0.22	0.17	1.03	1.13	(1.15)	1.81	(1.42)	15.87
MRK	0.96	(0.12)	0.00	(0.43)	0.00	0.00	1.74	(2.13)	5.17
XOM	0.75	(0.15)	0.00	(0.41)	0.00	0.00	1.71	(1.67)	6.06

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

iShares JP Morgan First Trust Emerging VanEck China Bond WisdomTree Emerging Currency American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines Intel

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