KFA Value Correlations

KVLE Etf

USD 26.29 0.19 0.72%

The current 90-days correlation between KFA Value Line and First Trust Nasdaq is 0.77 (i.e., Poor diversification). The correlation of KFA Value 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.

KFA Value Correlation With Market

Almost no diversification

The correlation between KFA Value Line and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KFA Value Line and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with KFA Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in KFA Value Line. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with KFA Etf

0.91	VTV	Vanguard Value Index	Pair Corr
0.92	VYM	Vanguard High Dividend	Pair Corr
0.92	IWD	iShares Russell 1000	Pair Corr
0.91	DGRO	iShares Core Dividend	Pair Corr
0.93	IVE	iShares SP 500	Pair Corr
0.93	SPYV	SPDR Portfolio SP	Pair Corr
0.93	IUSV	iShares Core SP	Pair Corr
0.86	NOBL	ProShares SP 500 Low Volatility	Pair Corr
0.93	FNDX	Schwab Fundamental Large	Pair Corr
0.91	VLUE	iShares MSCI USA	Pair Corr
0.9	TOT	Advisor Managed Port	Pair Corr
0.77	SHLD	Global X Defense	Pair Corr
0.76	FB	ProShares Trust ProShares	Pair Corr
0.93	SWP	SWP Growth Income	Pair Corr
0.81	CALY	Callaway Golf Symbol Change	Pair Corr
0.87	VBK	Vanguard Small Cap	Pair Corr
0.87	RDIV	Invesco SP Ultra	Pair Corr
0.83	AHYB	American Century ETF	Pair Corr
0.85	BINC	BlackRock ETF Trust	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.68	MRK	Merck Company Aggressive Push	Pair Corr
0.78	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.63	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.71	CVX	Chevron Corp	Pair Corr
0.77	INTC	Intel	Pair Corr
0.75	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against KFA Etf

0.6	HPQ	HP Inc	Pair Corr
0.41	MMM	3M Company	Pair Corr

Related Correlations Analysis

	NUDV	SAA	EFNL	QDIV	MDLV	EMSF	HFND	TCHI	ROSC	FTXR
NUDV		0.95	0.93	0.97	0.97	0.38	0.75	0.39	0.97	0.93	NUDV
SAA	0.95		0.91	0.92	0.87	0.37	0.77	0.5	0.98	0.93	SAA
EFNL	0.93	0.91		0.89	0.89	0.46	0.82	0.58	0.9	0.9	EFNL
QDIV	0.97	0.92	0.89		0.97	0.51	0.81	0.42	0.91	0.86	QDIV
MDLV	0.97	0.87	0.89	0.97		0.48	0.78	0.35	0.89	0.84	MDLV
EMSF	0.38	0.37	0.46	0.51	0.48		0.82	0.72	0.24	0.17	EMSF
HFND	0.75	0.77	0.82	0.81	0.78	0.82		0.77	0.67	0.6	HFND
TCHI	0.39	0.5	0.58	0.42	0.35	0.72	0.77		0.37	0.34	TCHI
ROSC	0.97	0.98	0.9	0.91	0.89	0.24	0.67	0.37		0.97	ROSC
FTXR	0.93	0.93	0.9	0.86	0.84	0.17	0.6	0.34	0.97		FTXR
	NUDV	SAA	EFNL	QDIV	MDLV	EMSF	HFND	TCHI	ROSC	FTXR

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KFA Value Constituents Risk-Adjusted Indicators

There is a big difference between KFA Etf performing well and KFA Value 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 KFA Value's 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
NUDV	0.51	0.11	0.17	0.19	0.33	(0.64)	1.15	(0.83)	3.37
SAA	1.74	0.18	0.11	0.11	1.83	(1.94)	4.04	(3.71)	9.67
EFNL	0.78	0.10	0.08	0.16	1.02	(0.74)	1.48	(1.51)	4.20
QDIV	0.62	0.13	0.17	0.22	0.45	(0.71)	1.89	(1.01)	3.26
MDLV	0.44	0.12	0.16	0.30	0.37	(0.49)	1.03	(0.99)	2.34
EMSF	0.97	(0.01)	(0.01)	0.02	1.50	(1.00)	1.85	(1.95)	8.11
HFND	0.46	0.00	(0.04)	0.03	0.53	(0.57)	1.24	(0.92)	2.98
TCHI	1.03	(0.11)	0.00	(0.16)	0.00	0.00	1.69	(2.11)	6.74
ROSC	0.69	0.16	0.22	0.20	0.45	(0.90)	2.01	(0.95)	4.69
FTXR	1.01	0.19	0.18	0.19	0.92	(1.19)	2.23	(1.71)	5.96

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