Stone Ridge Correlations

LFDR Etf

189.48 0.90 0.47%

The current 90-days correlation between Stone Ridge Durable and Harbor ETF Trust is 0.24 (i.e., Modest 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

Very good diversification

The correlation between Stone Ridge Durable and DJI is -0.46 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stone Ridge Durable 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, which includes a position in Stone Ridge Durable. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving against Stone Etf

0.55	CPST	Calamos ETF Trust	Pair Corr
0.55	AA	Alcoa Corp	Pair Corr
0.46	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.46	VB	Vanguard Small Cap	Pair Corr
0.45	VTV	Vanguard Value Index	Pair Corr
0.43	VO	Vanguard Mid Cap	Pair Corr
0.41	ITDD	iShares Trust	Pair Corr
0.4	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.38	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.38	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.32	VWO	Vanguard FTSE Emerging	Pair Corr
0.55	BA	Boeing	Pair Corr
0.52	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr
0.4	BAC	Bank of America	Pair Corr
0.39	JNJ	Johnson Johnson	Pair Corr
0.37	DD	Dupont De Nemours	Pair Corr
0.34	DIS	Walt Disney	Pair Corr
0.34	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	QHDG	ASCE	CEW	EQRR	JHID	INDE	GENM	EBIT
QHDG		0.76	0.53	0.65	0.52	-0.42	0.4	0.59	QHDG
ASCE	0.76		0.87	0.92	0.87	-0.67	0.77	0.95	ASCE
CEW	0.53	0.87		0.92	0.98	-0.77	0.91	0.9	CEW
EQRR	0.65	0.92	0.92		0.94	-0.63	0.87	0.95	EQRR
JHID	0.52	0.87	0.98	0.94		-0.7	0.93	0.92	JHID
INDE	-0.42	-0.67	-0.77	-0.63	-0.7		-0.67	-0.69	INDE
GENM	0.4	0.77	0.91	0.87	0.93	-0.67		0.86	GENM
EBIT	0.59	0.95	0.9	0.95	0.92	-0.69	0.86		EBIT
	QHDG	ASCE	CEW	EQRR	JHID	INDE	GENM	EBIT

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

JHID	+ 0.98	CEW
EBIT	+ 0.95	ASCE
EBIT	+ 0.95	EQRR
JHID	+ 0.94	EQRR
GENM	+ 0.93	JHID
EQRR	+ 0.92	ASCE

High negative correlations

INDE	- 0.77	CEW
INDE	- 0.7	JHID
EBIT	- 0.69	INDE
GENM	- 0.67	INDE
INDE	- 0.67	ASCE
INDE	- 0.63	EQRR

Stone Ridge Constituents 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
QHDG	0.54	(0.04)	(0.10)	0.03	0.72	(0.54)	1.30	(1.30)	3.55
ASCE	0.89	0.06	0.07	0.15	0.83	(1.01)	1.65	(1.76)	4.61
CEW	0.23	0.05	(0.09)	0.52	0.06	(0.28)	0.57	(0.32)	1.75
EQRR	0.68	0.07	0.06	0.17	0.87	(0.71)	1.54	(1.80)	4.11
JHID	0.53	0.19	0.23	0.41	0.19	(0.65)	1.21	(0.79)	3.46
INDE	0.67	(0.06)	0.00	(0.09)	0.00	0.00	1.20	(1.41)	4.78
GENM	0.09	0.02	(0.56)	(0.64)	0.00	(0.15)	0.20	(0.10)	0.58
EBIT	0.80	0.09	0.12	0.18	0.59	(1.04)	2.39	(1.60)	4.82

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