Knowledge Leaders Correlations

KLDW Etf

USD 54.75 0.43 0.78%

The current 90-days correlation between Knowledge Leaders and NEOS Investment Management is 0.22 (i.e., Modest 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

Very poor diversification

The correlation between Knowledge Leaders Developed and DJI is 0.8 (i.e., Very 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 american community survey.

Moving together with Knowledge Etf

0.88	VT	Vanguard Total World	Pair Corr
0.87	ACWI	iShares MSCI ACWI	Pair Corr
0.79	ACWV	iShares MSCI Global Low Volatility	Pair Corr
0.73	IOO	iShares Global 100	Pair Corr
0.82	URTH	iShares MSCI World	Pair Corr
0.84	CRBN	iShares MSCI ACWI	Pair Corr
0.86	GLOV	Goldman Sachs ActiveBeta Symbol Change	Pair Corr
0.79	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.89	SPGM	SPDR Portfolio MSCI	Pair Corr
0.82	AGQ	ProShares Ultra Silver	Pair Corr
0.8	DFEN	Direxion Daily Aerospace	Pair Corr
0.91	DGP	DB Gold Double	Pair Corr
0.88	UGL	ProShares Ultra Gold Downward Rally	Pair Corr
0.85	NUGT	Direxion Daily Gold	Pair Corr
0.9	DIG	ProShares Ultra Oil	Pair Corr
0.91	URNM	Sprott Uranium Miners	Pair Corr
0.84	VBK	Vanguard Small Cap	Pair Corr
0.88	BINC	BlackRock ETF Trust	Pair Corr
0.8	AHYB	American Century ETF	Pair Corr
0.87	RDIV	Invesco SP Ultra	Pair Corr
0.71	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.66	HD	Home Depot	Pair Corr
0.92	CAT	Caterpillar	Pair Corr
0.87	BA	Boeing	Pair Corr
0.79	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.84	INTC	Intel	Pair Corr
0.92	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Knowledge Etf

0.82	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.52	MMM	3M Company	Pair Corr

Related Correlations Analysis

	IDGT	EUSC	GARP	ADRE	EWCO	RYJ	GLOF	INCE	CACG	NUSI
IDGT		-0.08	0.45	0.0	0.0	0.13	0.28	0.0	0.0	0.27	IDGT
EUSC	-0.08		0.47	0.0	0.0	0.75	0.77	0.91	0.0	0.04	EUSC
GARP	0.45	0.47		0.0	0.0	0.65	0.87	0.6	0.0	0.0	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	0.13	0.75	0.65	0.0	0.0		0.86	0.89	0.0	-0.09	RYJ
GLOF	0.28	0.77	0.87	0.0	0.0	0.86		0.9	0.0	-0.08	GLOF
INCE	0.0	0.91	0.6	0.0	0.0	0.89	0.9		0.0	-0.14	INCE
CACG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CACG
NUSI	0.27	0.04	0.0	0.0	0.0	-0.09	-0.08	-0.14	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	+ 0.91	EUSC
INCE	+ 0.9	GLOF
INCE	+ 0.89	RYJ
GLOF	+ 0.87	GARP
GLOF	+ 0.86	RYJ
GLOF	+ 0.77	EUSC

High negative correlations

NUSI	- 0.14	INCE
NUSI	- 0.09	RYJ
NUSI	- 0.08	GLOF
EUSC	- 0.08	IDGT
NUSI	- 0.0	CACG
CACG	- 0.0	INCE

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	0.84	(0.13)	0.00	(0.12)	0.00	0.00	1.34	(2.43)	4.96
EUSC	0.50	0.13	0.14	(1.45)	0.44	(0.53)	1.09	(0.95)	2.87
GARP	0.94	(0.09)	0.00	(0.06)	0.00	0.00	1.62	(2.17)	5.24
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	0.67	0.10	0.08	15.83	0.55	(0.89)	2.03	(1.31)	3.97
GLOF	0.57	0.00	(0.01)	0.04	0.71	(0.59)	1.05	(1.15)	3.20
INCE	0.44	0.14	0.24	0.29	0.00	(0.49)	0.98	(0.74)	2.18
CACG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUSI	0.49	(0.03)	0.00	0.27	0.00	0.00	0.86	(1.34)	3.87

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