KraneShares Correlations

Summary

KMET Etf

USD 13.07 0.00 0.00%

The current 90-days correlation between KraneShares and Vanguard Total Stock is -0.19 (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

Good diversification

The correlation between KraneShares and DJI is -0.16 (i.e., Good 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 income.

Moving against KraneShares Etf

0.82	VWO	Vanguard FTSE Emerging	Pair Corr
0.64	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.49	VUG	Vanguard Growth Index	Pair Corr
0.48	ITDD	iShares Trust	Pair Corr
0.44	VTV	Vanguard Value Index	Pair Corr
0.4	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.39	VB	Vanguard Small Cap	Pair Corr
0.35	IVV	iShares Core SP	Pair Corr
0.34	ITWO	Proshares Russell 2000	Pair Corr
0.31	VTI	Vanguard Total Stock	Pair Corr
0.81	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.79	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.77	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.73	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.73	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.6	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.54	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.46	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.42	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.53	0.1	0.5	0.07	0.42	0.3	-0.52	0.73	META
MSFT	0.26		0.19	0.2	0.14	0.01	-0.07	-0.08	0.13	-0.2	MSFT
UBER	0.53	0.19		-0.06	-0.13	0.28	-0.11	-0.17	0.11	0.35	UBER
F	0.1	0.2	-0.06		0.32	-0.41	0.6	0.71	-0.39	0.32	F
T	0.5	0.14	-0.13	0.32		-0.49	0.51	0.68	-0.8	0.39	T
A	0.07	0.01	0.28	-0.41	-0.49		-0.37	-0.58	0.62	0.0	A
CRM	0.42	-0.07	-0.11	0.6	0.51	-0.37		0.85	-0.76	0.59	CRM
JPM	0.3	-0.08	-0.17	0.71	0.68	-0.58	0.85		-0.84	0.46	JPM
MRK	-0.52	0.13	0.11	-0.39	-0.8	0.62	-0.76	-0.84		-0.55	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.59	0.46	-0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.85	CRM
XOM	+ 0.73	META
JPM	+ 0.71	F
JPM	+ 0.68	T
MRK	+ 0.62	A
CRM	+ 0.6	F

High negative correlations

MRK	- 0.84	JPM
MRK	- 0.8	T
MRK	- 0.76	CRM
JPM	- 0.58	A
XOM	- 0.55	MRK
MRK	- 0.52	META

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	1.11	0.13	0.06	0.31	1.37	(1.22)	2.69	(3.15)	8.02
MSFT	0.92	(0.01)	(0.03)	0.09	1.49	(0.90)	2.09	(1.85)	8.19
UBER	1.63	(0.08)	(0.03)	0.04	2.32	(1.73)	2.69	(2.53)	20.10
F	1.43	(0.16)	(0.04)	0.01	2.21	(1.41)	2.53	(2.90)	11.21
T	0.95	0.00	0.10	0.00	0.95	(1.06)	2.56	(1.86)	6.47
A	1.17	(0.08)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.28	0.35	0.25	0.44	0.98	(1.50)	3.18	(1.70)	9.98
JPM	1.14	(0.04)	0.04	0.09	1.38	(1.25)	2.05	(2.00)	15.87
MRK	0.92	(0.26)	0.00	(0.91)	0.00	0.00	2.00	(2.13)	4.89
XOM	0.98	(0.05)	(0.08)	0.02	1.32	(1.03)	2.10	(2.09)	5.74

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.

Vanguard Total Stock SPDR SP 500 Vanguard Total Bond Vanguard Value Index Vanguard Growth Index Vanguard Mid Cap Index Vanguard FTSE Developed Vanguard Small Cap Index Vanguard FTSE Emerging American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC