Roundhill Investments Correlations

MAGQ Etf

20.24 0.11 0.54%

The current 90-days correlation between Roundhill Investments and Roundhill Investments is 0.21 (i.e., Modest diversification). The correlation of Roundhill Investments 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.

Roundhill Investments Correlation With Market

Good diversification

The correlation between Roundhill Investments and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Investments and DJI in the same portfolio, assuming nothing else is changed.

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 price.

Moving together with Roundhill Etf

0.66	QID	ProShares UltraShort QQQ	Pair Corr
0.83	TAIL	Cambria Tail Risk	Pair Corr
0.66	NRGU	Bank Of Montreal	Pair Corr

Moving against Roundhill Etf

0.78	YCS	ProShares UltraShort Yen	Pair Corr
0.73	TBT	ProShares UltraShort	Pair Corr
0.72	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.63	SGG	Barclays Capital	Pair Corr
0.51	MLPR	ETRACS Quarterly Pay	Pair Corr
0.87	HAPR	Innovator Premium Income	Pair Corr
0.87	TFLO	iShares Treasury Floating	Pair Corr
0.85	GJAN	First Trust Exchange	Pair Corr
0.83	XONE	Bondbloxx Bloomberg One	Pair Corr
0.8	BRLN	Blackrock ETF Trust	Pair Corr
0.8	XDEC	First Trust Exchange	Pair Corr
0.75	STK	Columbia Seligman Premium	Pair Corr
0.74	XCCC	BondBloxx ETF Trust	Pair Corr
0.72	TMV	Direxion Daily 20 Sell-off Trend	Pair Corr
0.69	WANT	Direxion Daily Cnsmr	Pair Corr
0.68	PTNQ	Pacer Trendpilot 100	Pair Corr
0.62	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.59	XOUT	GraniteShares XOUT Large	Pair Corr
0.52	AMZA	InfraCap MLP ETF	Pair Corr
0.51	Z	Zillow Group Class	Pair Corr
0.48	ETHT	ProShares Trust Upward Rally	Pair Corr
0.87	BILS	SPDR Series Trust	Pair Corr
0.86	MINT	PIMCO Enhanced Short	Pair Corr
0.83	SEIX	Virtus ETF Trust	Pair Corr
0.82	PJAN	Innovator SP 500	Pair Corr
0.81	OLO	Olo Inc	Pair Corr
0.73	BTC	Grayscale Bitcoin Mini	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.57	-0.59	0.32	0.57	0.53	0.34	-0.06	-0.67	META
MSFT	0.73		-0.53	-0.24	0.56	0.23	0.65	0.25	-0.1	-0.47	MSFT
UBER	-0.57	-0.53		0.64	-0.58	-0.08	-0.78	-0.56	0.67	0.81	UBER
F	-0.59	-0.24	0.64		0.01	-0.25	-0.2	-0.07	0.2	0.9	F
T	0.32	0.56	-0.58	0.01		0.0	0.8	0.59	-0.45	-0.23	T
A	0.57	0.23	-0.08	-0.25	0.0		0.12	0.22	0.32	-0.19	A
CRM	0.53	0.65	-0.78	-0.2	0.8	0.12		0.7	-0.59	-0.44	CRM
JPM	0.34	0.25	-0.56	-0.07	0.59	0.22	0.7		-0.62	-0.25	JPM
MRK	-0.06	-0.1	0.67	0.2	-0.45	0.32	-0.59	-0.62		0.32	MRK
XOM	-0.67	-0.47	0.81	0.9	-0.23	-0.19	-0.44	-0.25	0.32		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

XOM	+ 0.9	F
XOM	+ 0.81	UBER
CRM	+ 0.8	T
MSFT	+ 0.73	META
JPM	+ 0.7	CRM
MRK	+ 0.67	UBER

High negative correlations

CRM	- 0.78	UBER
XOM	- 0.67	META
MRK	- 0.62	JPM
MRK	- 0.59	CRM
F	- 0.59	META
T	- 0.58	UBER

Roundhill Investments Competition Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill Investments 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 Roundhill Investments' 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	1.36	0.06	0.03	0.21	1.51	(1.56)	3.43	(3.15)	7.43
MSFT	0.92	0.04	0.01	1.07	1.58	(0.87)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(26.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.08)	0.00	(0.17)	0.00	0.00	2.38	(2.81)	11.21
T	0.97	0.08	0.06	0.24	1.10	(1.04)	1.91	(1.84)	7.96
A	1.21	0.03	0.01	0.09	1.45	(1.33)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.10	0.79	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.03	0.25	0.17	1.11	1.11	(1.17)	1.92	(1.42)	15.87
MRK	1.00	(0.17)	0.00	(0.68)	0.00	0.00	1.74	(2.17)	5.17
XOM	0.76	(0.15)	0.00	(0.37)	0.00	0.00	1.71	(1.67)	6.06

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

Roundhill Investments Roundhill Acquirers Deep Roundhill BIG Tech Roundhill Investments Roundhill Investments Roundhill Investments Roundhill Investments Roundhill Investments American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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