Point Bridge Correlations

MAGA Etf

USD 53.11 0.48 0.91%

The current 90-days correlation between Point Bridge GOP and iShares MSCI China is 0.36 (i.e., Weak diversification). The correlation of Point Bridge 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.

Point Bridge Correlation With Market

Very poor diversification

The correlation between Point Bridge GOP and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Point Bridge GOP and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Point Etf

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

Moving together with Point Etf

0.92	VOE	Vanguard Mid Cap	Pair Corr
0.95	SDY	SPDR SP Dividend	Pair Corr
0.95	DVY	iShares Select Dividend	Pair Corr
0.96	IWS	iShares Russell Mid	Pair Corr
0.88	FVD	First Trust Value	Pair Corr
0.94	SPYD	SPDR Portfolio SP	Pair Corr
0.78	COWZ	Pacer Cash Cows	Pair Corr
0.95	IJJ	iShares SP Mid	Pair Corr
0.97	DON	WisdomTree MidCap	Pair Corr
0.84	RPV	Invesco SP 500	Pair Corr
0.67	DGP	DB Gold Double	Pair Corr
0.71	AGQ	ProShares Ultra Silver	Pair Corr
0.61	SMH	VanEck Semiconductor ETF	Pair Corr
0.95	RSSE	First Trust Exchange	Pair Corr
0.73	FGD	First Trust Dow	Pair Corr
0.8	JEPI	JPMorgan Equity Premium	Pair Corr
0.62	DJD	Invesco Dow Jones	Pair Corr
0.75	INOV	Innovator ETFs Trust	Pair Corr
0.72	SPY	SPDR SP 500 Sell-off Trend	Pair Corr

Related Correlations Analysis

	TCHI	HFND	MDLV	EFNL	EMSF	PPTY	NUDV	SAA	BSR	WBIG
TCHI		0.56	-0.4	-0.3	0.41	0.18	-0.37	0.05	-0.28	0.36	TCHI
HFND	0.56		0.1	0.33	0.55	0.23	0.18	0.33	0.01	0.3	HFND
MDLV	-0.4	0.1		0.77	-0.39	0.24	0.97	0.68	0.37	0.3	MDLV
EFNL	-0.3	0.33	0.77		-0.01	-0.08	0.81	0.63	0.26	0.22	EFNL
EMSF	0.41	0.55	-0.39	-0.01		-0.08	-0.33	-0.18	-0.14	-0.05	EMSF
PPTY	0.18	0.23	0.24	-0.08	-0.08		0.26	0.23	0.03	0.14	PPTY
NUDV	-0.37	0.18	0.97	0.81	-0.33	0.26		0.77	0.38	0.33	NUDV
SAA	0.05	0.33	0.68	0.63	-0.18	0.23	0.77		0.23	0.74	SAA
BSR	-0.28	0.01	0.37	0.26	-0.14	0.03	0.38	0.23		0.01	BSR
WBIG	0.36	0.3	0.3	0.22	-0.05	0.14	0.33	0.74	0.01		WBIG
	TCHI	HFND	MDLV	EFNL	EMSF	PPTY	NUDV	SAA	BSR	WBIG

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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

NUDV	+ 0.97	MDLV
NUDV	+ 0.81	EFNL
EFNL	+ 0.77	MDLV
SAA	+ 0.77	NUDV
WBIG	+ 0.74	SAA
SAA	+ 0.68	MDLV

High negative correlations

MDLV	- 0.4	TCHI
EMSF	- 0.39	MDLV
NUDV	- 0.37	TCHI
NUDV	- 0.33	EMSF
EFNL	- 0.3	TCHI
BSR	- 0.28	TCHI

Point Bridge Constituents Risk-Adjusted Indicators

There is a big difference between Point Etf performing well and Point Bridge 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 Point Bridge'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
TCHI	1.19	(0.19)	0.00	(0.11)	0.00	0.00	2.11	(2.21)	7.86
HFND	0.46	(0.03)	(0.11)	0.01	0.59	(0.54)	1.24	(0.92)	2.98
MDLV	0.48	0.00	(0.05)	0.08	0.55	(0.49)	1.02	(0.99)	2.35
EFNL	0.68	0.17	0.13	0.50	0.64	(0.73)	1.48	(1.26)	5.64
EMSF	1.07	0.02	(0.03)	0.17	1.61	(1.11)	1.93	(2.03)	10.15
PPTY	0.62	(0.03)	(0.08)	0.01	0.83	(0.61)	1.40	(0.94)	3.58
NUDV	0.54	0.02	0.00	0.10	0.52	(0.62)	1.12	(1.00)	2.74
SAA	1.86	0.04	0.00	0.14	2.23	(2.07)	3.62	(4.20)	8.62
BSR	4.57	0.26	0.04	0.22	7.13	(4.80)	17.70	(16.72)	39.47
WBIG	0.53	(0.02)	(0.10)	(0.14)	0.78	(0.51)	0.86	(1.06)	4.51

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