Ultimus Managers Correlations

MDST Etf

27.79 0.49 1.79%

The current 90-days correlation between Ultimus Managers Trust and American Beacon Select is 0.57 (i.e., Very weak diversification). The correlation of Ultimus Managers 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.

Ultimus Managers Correlation With Market

Significant diversification

The correlation between Ultimus Managers Trust and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultimus Managers Trust and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ultimus Etf

0.91	EMLP	First Trust North	Pair Corr
0.63	AMJ	JPMorgan	Pair Corr
0.92	MLPA	Global X MLP	Pair Corr
0.94	MLPX	Global X MLP	Pair Corr
0.94	TPYP	Tortoise North American	Pair Corr
0.93	AMZA	InfraCap MLP ETF	Pair Corr
0.92	MLPB	UBS AG London	Pair Corr
0.96	ATMP	Barclays ETN Select	Pair Corr
0.96	ENFR	Alerian Energy Infra	Pair Corr
0.92	AMUB	UBS AG London	Pair Corr
0.75	PULS	PGIM Ultra Short	Pair Corr
0.7	MPAY	Akros Monthly Payout	Pair Corr
0.81	CPST	Calamos ETF Trust	Pair Corr
0.87	AXP	American Express	Pair Corr
0.62	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.87	JPM	JPMorgan Chase	Pair Corr
0.68	WMT	Walmart Aggressive Push	Pair Corr
0.69	MMM	3M Company	Pair Corr

Moving against Ultimus Etf

0.79	BITI	ProShares Trust	Pair Corr
0.74	GREI	Goldman Sachs Future	Pair Corr
0.46	JNJ	Johnson Johnson	Pair Corr
0.54	KO	Coca Cola Earnings Call This Week	Pair Corr
0.42	MCD	McDonalds Earnings Call Tomorrow	Pair Corr
0.4	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.38	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	MDST	MGNR	MISL	DRIP	DRLL	MLPX	MLPR	MLPA	MLPB
MDST		0.57	0.07	-0.71	0.42	0.94	0.9	0.92	0.92	MDST
MGNR	0.57		0.54	-0.83	0.84	0.59	0.58	0.55	0.59	MGNR
MISL	0.07	0.54		-0.47	0.61	0.09	0.04	-0.01	0.04	MISL
DRIP	-0.71	-0.83	-0.47		-0.92	-0.76	-0.6	-0.63	-0.61	DRIP
DRLL	0.42	0.84	0.61	-0.92		0.52	0.36	0.38	0.36	DRLL
MLPX	0.94	0.59	0.09	-0.76	0.52		0.85	0.93	0.86	MLPX
MLPR	0.9	0.58	0.04	-0.6	0.36	0.85		0.96	0.99	MLPR
MLPA	0.92	0.55	-0.01	-0.63	0.38	0.93	0.96		0.97	MLPA
MLPB	0.92	0.59	0.04	-0.61	0.36	0.86	0.99	0.97		MLPB
	MDST	MGNR	MISL	DRIP	DRLL	MLPX	MLPR	MLPA	MLPB

Click cells to compare fundamentals

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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

MLPB	+ 0.99	MLPR
MLPB	+ 0.97	MLPA
MLPA	+ 0.96	MLPR
MLPX	+ 0.94	MDST
MLPA	+ 0.93	MLPX
MLPA	+ 0.92	MDST

High negative correlations

DRLL	- 0.92	DRIP
DRIP	- 0.83	MGNR
MLPX	- 0.76	DRIP
DRIP	- 0.71	MDST
MLPA	- 0.63	DRIP
MLPB	- 0.61	DRIP

Ultimus Managers Constituents Risk-Adjusted Indicators

There is a big difference between Ultimus Etf performing well and Ultimus Managers 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 Ultimus Managers' 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
MDST	0.78	0.11	0.04	1.08	1.01	(0.81)	1.84	(1.97)	6.09
MGNR	0.98	0.04	(0.01)	0.21	1.33	(1.05)	2.35	(1.85)	8.43
MISL	0.97	(0.03)	0.00	(2.31)	0.00	0.00	1.59	(1.64)	8.22
DRIP	2.23	(0.01)	0.00	0.08	0.00	0.00	5.00	(3.85)	14.00
DRLL	0.85	(0.01)	(0.05)	0.03	1.23	(0.80)	1.49	(1.92)	6.66
MLPX	1.01	0.13	0.05	0.38	1.44	(0.96)	2.17	(2.37)	7.74
MLPR	1.43	0.30	0.12	1.25	1.58	(1.48)	3.34	(2.92)	9.62
MLPA	0.77	0.16	0.11	0.63	0.73	(0.83)	1.44	(1.28)	4.99
MLPB	0.89	0.22	0.14	0.92	0.84	(0.93)	1.63	(1.65)	5.30

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