LeaderSharesTM AlphaFactor Correlations

LSAF Etf

USD 46.75 0.46 0.99%

The current 90-days correlation between LeaderSharesTM AlphaFactor and Main International ETF is 0.71 (i.e., Poor diversification). The correlation of LeaderSharesTM AlphaFactor 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.

LeaderSharesTM AlphaFactor Correlation With Market

Very poor diversification

The correlation between LeaderSharesTM AlphaFactor Cor and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LeaderSharesTM AlphaFactor Cor and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with LeaderSharesTM Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in LeaderSharesTM AlphaFactor Core. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with LeaderSharesTM Etf

0.83	VO	Vanguard Mid Cap	Pair Corr
0.8	VXF	Vanguard Extended Market	Pair Corr
0.98	IJH	iShares Core SP	Pair Corr
0.93	IWR	iShares Russell Mid	Pair Corr
0.98	MDY	SPDR SP MIDCAP	Pair Corr
0.9	FV	First Trust Dorsey	Pair Corr
0.98	IVOO	Vanguard SP Mid	Pair Corr
0.99	JHMM	John Hancock Multifactor	Pair Corr
0.97	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.93	XMMO	Invesco SP MidCap	Pair Corr
0.85	TOT	Advisor Managed Port	Pair Corr
0.64	LUX	Tema Global	Pair Corr
0.81	FB	ProShares Trust ProShares	Pair Corr
0.83	SWP	SWP Growth Income	Pair Corr
0.9	DUKH	Ocean Park High	Pair Corr
0.71	AXP	American Express	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.77	BAC	Bank of America Earnings Call This Week	Pair Corr
0.69	MRK	Merck Company	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr

Moving against LeaderSharesTM Etf

0.57	T	ATT Inc	Pair Corr
0.43	MSFT	Microsoft	Pair Corr
0.38	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	INTL	MDST	TMFM	TPIF	MGMT	MVV	CPAI	EJUL	SMIZ	IQSZ
INTL		0.38	0.25	0.82	0.73	0.84	0.9	0.85	0.79	0.86	INTL
MDST	0.38		-0.26	0.58	0.43	0.48	0.46	0.35	0.33	0.56	MDST
TMFM	0.25	-0.26		-0.01	0.4	0.29	0.13	0.05	0.36	-0.07	TMFM
TPIF	0.82	0.58	-0.01		0.79	0.75	0.84	0.86	0.64	0.91	TPIF
MGMT	0.73	0.43	0.4	0.79		0.87	0.81	0.62	0.8	0.75	MGMT
MVV	0.84	0.48	0.29	0.75	0.87		0.93	0.62	0.95	0.85	MVV
CPAI	0.9	0.46	0.13	0.84	0.81	0.93		0.76	0.89	0.91	CPAI
EJUL	0.85	0.35	0.05	0.86	0.62	0.62	0.76		0.56	0.81	EJUL
SMIZ	0.79	0.33	0.36	0.64	0.8	0.95	0.89	0.56		0.8	SMIZ
IQSZ	0.86	0.56	-0.07	0.91	0.75	0.85	0.91	0.81	0.8		IQSZ
	INTL	MDST	TMFM	TPIF	MGMT	MVV	CPAI	EJUL	SMIZ	IQSZ

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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

SMIZ	+ 0.95	MVV
CPAI	+ 0.93	MVV
IQSZ	+ 0.91	TPIF
IQSZ	+ 0.91	CPAI
CPAI	+ 0.9	INTL
SMIZ	+ 0.89	CPAI

High negative correlations

TMFM	- 0.26	MDST
IQSZ	- 0.07	TMFM
TPIF	- 0.01	TMFM

LeaderSharesTM AlphaFactor Constituents Risk-Adjusted Indicators

There is a big difference between LeaderSharesTM Etf performing well and LeaderSharesTM AlphaFactor 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 LeaderSharesTM AlphaFactor'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
INTL	0.60	0.00	(0.02)	0.07	0.74	(0.63)	1.24	(1.19)	3.19
MDST	0.64	(0.04)	0.00	(0.10)	0.00	0.00	1.21	(1.45)	3.64
TMFM	0.84	(0.06)	0.00	(0.14)	0.00	0.00	1.55	(1.50)	3.65
TPIF	0.52	0.07	0.03	0.47	0.59	(0.53)	1.03	(1.02)	2.36
MGMT	0.86	0.05	0.00	0.26	1.04	(0.91)	2.02	(1.72)	4.25
MVV	1.63	(0.04)	0.02	0.05	2.03	(1.65)	3.83	(3.49)	7.79
CPAI	0.99	0.04	0.04	0.10	1.12	(1.11)	2.20	(2.11)	5.52
EJUL	0.29	0.03	(0.05)	0.63	0.39	(0.30)	0.64	(0.58)	2.06
SMIZ	0.89	(0.04)	(0.02)	0.03	1.12	(0.94)	1.83	(1.96)	4.39
IQSZ	0.59	0.02	0.02	0.09	0.79	(0.57)	1.10	(1.31)	3.31

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