Stone Ridge Correlations

LDRR Etf

136.94 0.00 0.00%

The current 90-days correlation between Stone Ridge and Invesco SP SmallCap is 0.08 (i.e., Significant diversification). The correlation of Stone Ridge 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.

Stone Ridge Correlation With Market

Poor diversification

The correlation between Stone Ridge and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stone Ridge and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Stone Etf

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 real.

Moving together with Stone Etf

0.74	INR	Infinity Natural Res Earnings Call This Week	Pair Corr
0.7	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.81	VTV	Vanguard Value Index	Pair Corr
0.76	VO	Vanguard Mid Cap	Pair Corr
0.82	VEA	Vanguard FTSE Developed	Pair Corr
0.72	VB	Vanguard Small Cap	Pair Corr
0.78	CPST	Calamos ETF Trust	Pair Corr
0.76	CCNR	CoreCommodity Natural	Pair Corr
0.78	PID	Invesco International	Pair Corr
0.82	DFE	WisdomTree Europe	Pair Corr
0.79	HEEM	iShares Currency Hedged	Pair Corr
0.79	CFA	VictoryShares 500	Pair Corr
0.72	IGEB	iShares Edge Investment	Pair Corr
0.83	ESGD	iShares ESG Aware	Pair Corr
0.73	FIEE	FiEE Inc Symbol Change	Pair Corr
0.66	AUMI	Themes Gold Miners	Pair Corr
0.8	STXV	EA Series Trust	Pair Corr
0.8	QTAP	Innovator Growth 100	Pair Corr
0.73	IJS	iShares SP Small	Pair Corr
0.68	VDC	Vanguard Consumer Staples	Pair Corr
0.67	LALT	Invesco Multi Strategy	Pair Corr
0.63	GOCT	FT Cboe Vest	Pair Corr
0.74	MEXX	Direxion Daily MSCI	Pair Corr
0.84	ILOW	AB Active ETFs	Pair Corr
0.8	RHRX	Starboard Investment	Pair Corr
0.76	ERET	iShares Environmentally	Pair Corr
0.76	DIA	SPDR Dow Jones	Pair Corr
0.61	LQIG	SPDR MarketAxess Inv	Pair Corr
0.76	EAFG	Pacer Funds Trust	Pair Corr

Moving against Stone Etf

0.74	MPAY	Exchange Traded Concepts	Pair Corr
0.64	VUG	Vanguard Growth Index	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.08	-0.11	0.0	0.13	-0.21	-0.03	0.14	-0.01	0.15	META
MSFT	-0.08		0.84	-0.57	-0.87	0.83	0.92	0.41	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.53	-0.77	0.85	0.76	0.25	-0.82	-0.83	UBER
F	0.0	-0.57	-0.53		0.35	-0.43	-0.45	-0.1	0.64	0.58	F
T	0.13	-0.87	-0.77	0.35		-0.71	-0.87	-0.34	0.79	0.79	T
A	-0.21	0.83	0.85	-0.43	-0.71		0.71	0.36	-0.75	-0.85	A
CRM	-0.03	0.92	0.76	-0.45	-0.87	0.71		0.57	-0.84	-0.9	CRM
JPM	0.14	0.41	0.25	-0.1	-0.34	0.36	0.57		-0.25	-0.43	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.75	-0.84	-0.25		0.92	MRK
XOM	0.15	-0.95	-0.83	0.58	0.79	-0.85	-0.9	-0.43	0.92		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

CRM	+ 0.92	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.83	MSFT
MRK	+ 0.79	T

High negative correlations

XOM	- 0.95	MSFT
MRK	- 0.92	MSFT
XOM	- 0.9	CRM
CRM	- 0.87	T
T	- 0.87	MSFT
XOM	- 0.85	A

Stone Ridge Competition Risk-Adjusted Indicators

There is a big difference between Stone Etf performing well and Stone Ridge 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 Stone Ridge'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
META	1.45	0.03	0.01	0.08	1.59	(1.56)	2.38	(2.81)	13.69
MSFT	1.35	(0.25)	0.00	(0.52)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.58	(0.15)	0.00	(0.26)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.07)	0.00	(0.03)	0.00	0.00	3.61	(2.59)	9.82
T	1.06	0.19	0.12	(0.62)	0.93	(1.27)	3.87	(1.76)	7.44
A	1.22	(0.45)	0.00	(0.45)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.82	(0.20)	0.00	0.47	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.06)	(0.02)	0.00	1.84	(1.28)	2.34	(3.11)	8.17
MRK	1.21	0.19	0.11	0.54	1.27	(1.29)	2.54	(2.06)	7.10
XOM	1.32	0.44	0.27	2.84	1.08	(1.56)	2.90	(2.44)	6.83

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

Goldman Sachs ETF FlexShares Quality Low Zacks Trust Principal Value ETF iShares ESG Aware Innovator SP 500 First Trust Exchange Invesco SP SmallCap American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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