Knowledge Leaders Correlations

KLDW Etf

USD 57.13 0.17 0.30%

The current 90-days correlation between Knowledge Leaders and NEOS Investment Management is 0.09 (i.e., Significant diversification). The correlation of Knowledge Leaders 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.

Knowledge Leaders Correlation With Market

Poor diversification

The correlation between Knowledge Leaders Developed and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knowledge Leaders Developed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Knowledge Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Knowledge Leaders Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with Knowledge Etf

0.91	VT	Vanguard Total World	Pair Corr
0.9	ACWI	iShares MSCI ACWI	Pair Corr
0.93	ACWV	iShares MSCI Global	Pair Corr
0.83	URTH	iShares MSCI World	Pair Corr
0.87	CRBN	iShares MSCI ACWI	Pair Corr
0.84	GLOV	Goldman Sachs ActiveBeta Symbol Change	Pair Corr
0.77	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.92	SPGM	SPDR Portfolio MSCI	Pair Corr
0.83	INR	Infinity Natural Res Earnings Call This Week	Pair Corr
0.82	BND	Vanguard Total Bond	Pair Corr
0.96	VTV	Vanguard Value Index	Pair Corr
0.95	UEVM	VictoryShares Emerging	Pair Corr
0.88	NAPR	Innovator Nasdaq 100	Pair Corr
0.98	PID	Invesco International	Pair Corr
0.82	RSST	Return Stacked Stocks	Pair Corr
0.96	TAXT	Northern Trust Tax	Pair Corr
0.93	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.95	VDC	Vanguard Consumer Staples	Pair Corr
0.95	EMIF	iShares Emerging Markets	Pair Corr
0.97	AVDS	Avantis International	Pair Corr
0.64	SLV	iShares Silver Trust	Pair Corr
0.97	SPDV	AAM SP 500	Pair Corr
0.88	AUMI	Themes Gold Miners	Pair Corr
0.98	VYMI	Vanguard International	Pair Corr
0.9	ETHO	Amplify Etho Climate	Pair Corr
0.62	PDEC	Innovator SP 500	Pair Corr
0.92	AHYB	American Century ETF	Pair Corr
0.97	ESGD	iShares ESG Aware	Pair Corr
0.69	GOCT	FT Cboe Vest	Pair Corr
0.92	FNK	First Trust Mid	Pair Corr
0.89	PSMR	Pacer Swan SOS	Pair Corr

Moving against Knowledge Etf

0.75	BCOR	Grayscale Bitcoin	Pair Corr
0.8	VUG	Vanguard Growth Index	Pair Corr
0.68	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	IDGT	EUSC	GARP	ADRE	EWCO	RYJ	GLOF	INCE	CACG	NUSI
IDGT		0.83	-0.12	0.0	0.0	0.72	0.72	0.78	0.0	0.0	IDGT
EUSC	0.83		-0.08	0.0	0.0	0.89	0.83	0.93	0.0	0.04	EUSC
GARP	-0.12	-0.08		0.0	0.0	0.09	0.39	0.1	0.0	-0.05	GARP
ADRE	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	ADRE
EWCO	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	EWCO
RYJ	0.72	0.89	0.09	0.0	0.0		0.87	0.93	0.0	-0.15	RYJ
GLOF	0.72	0.83	0.39	0.0	0.0	0.87		0.94	0.0	-0.06	GLOF
INCE	0.78	0.93	0.1	0.0	0.0	0.93	0.94		0.0	-0.12	INCE
CACG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CACG
NUSI	0.0	0.04	-0.05	0.0	0.0	-0.15	-0.06	-0.12	0.0		NUSI
	IDGT	EUSC	GARP	ADRE	EWCO	RYJ	GLOF	INCE	CACG	NUSI

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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

INCE	+ 0.94	GLOF
INCE	+ 0.93	EUSC
INCE	+ 0.93	RYJ
RYJ	+ 0.89	EUSC
GLOF	+ 0.87	RYJ
EUSC	+ 0.83	IDGT

High negative correlations

NUSI	- 0.15	RYJ
NUSI	- 0.12	INCE
GARP	- 0.12	IDGT
GARP	- 0.08	EUSC
NUSI	- 0.06	GLOF
NUSI	- 0.05	GARP

Knowledge Leaders Constituents Risk-Adjusted Indicators

There is a big difference between Knowledge Etf performing well and Knowledge Leaders 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 Knowledge Leaders' 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
IDGT	0.87	0.18	0.14	0.35	0.83	(0.99)	2.19	(1.52)	5.89
EUSC	0.50	0.14	0.08	(0.94)	0.44	(0.53)	1.09	(0.95)	2.87
GARP	0.83	(0.03)	(0.02)	0.04	1.23	(0.77)	1.49	(2.03)	5.05
ADRE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EWCO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RYJ	0.62	0.15	0.07	(0.48)	0.54	(0.78)	1.74	(1.31)	4.25
GLOF	0.55	0.05	0.05	0.14	0.53	(0.63)	1.05	(1.06)	3.50
INCE	0.38	0.17	0.29	0.46	0.00	(0.46)	1.08	(0.71)	2.16
CACG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUSI	0.49	0.00	0.00	0.00	0.00	0.00	0.86	(1.34)	3.87

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