Roundhill Meta Correlations

METW Etf

36.45 0.31 0.86%

The current 90-days correlation between Roundhill Meta Weeklypay and Roundhill ETF Trust is 0.1 (i.e., Average diversification). The correlation of Roundhill Meta 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 Meta Correlation With Market

Weak diversification

The correlation between Roundhill Meta Weeklypay and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Meta Weeklypay and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Roundhill Etf

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

Moving together with Roundhill Etf

0.68	MSFT	Microsoft	Pair Corr
0.62	T	ATT Inc	Pair Corr
0.84	HD	Home Depot	Pair Corr
0.87	BA	Boeing	Pair Corr

Moving against Roundhill Etf

0.35	AMPD	Tidal ETF Services	Pair Corr
0.31	CPST	Calamos ETF Trust	Pair Corr
0.77	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.66	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.65	IBM	International Business	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.61	TRV	The Travelers Companies	Pair Corr
0.53	AXP	American Express	Pair Corr
0.43	BAC	Bank of America	Pair Corr
0.42	PFE	Pfizer Inc	Pair Corr
0.41	AA	Alcoa Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	NFLW	BRKW	AMZW	MSFW	GOOW	RFCI	OCTJ	AAPW	MFLX	AMDW
NFLW		-0.03	-0.09	0.73	-0.85	-0.37	-0.83	-0.76	-0.6	-0.12	NFLW
BRKW	-0.03		-0.16	-0.46	0.21	-0.12	0.07	0.18	-0.06	-0.39	BRKW
AMZW	-0.09	-0.16		0.05	0.23	-0.06	0.21	0.41	0.32	0.34	AMZW
MSFW	0.73	-0.46	0.05		-0.81	-0.16	-0.56	-0.62	-0.42	0.24	MSFW
GOOW	-0.85	0.21	0.23	-0.81		0.43	0.74	0.89	0.7	0.16	GOOW
RFCI	-0.37	-0.12	-0.06	-0.16	0.43		0.43	0.43	0.62	0.52	RFCI
OCTJ	-0.83	0.07	0.21	-0.56	0.74	0.43		0.78	0.5	0.09	OCTJ
AAPW	-0.76	0.18	0.41	-0.62	0.89	0.43	0.78		0.7	0.26	AAPW
MFLX	-0.6	-0.06	0.32	-0.42	0.7	0.62	0.5	0.7		0.63	MFLX
AMDW	-0.12	-0.39	0.34	0.24	0.16	0.52	0.09	0.26	0.63		AMDW
	NFLW	BRKW	AMZW	MSFW	GOOW	RFCI	OCTJ	AAPW	MFLX	AMDW

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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

AAPW	+ 0.89	GOOW
AAPW	+ 0.78	OCTJ
OCTJ	+ 0.74	GOOW
MSFW	+ 0.73	NFLW
MFLX	+ 0.7	GOOW
MFLX	+ 0.7	AAPW

High negative correlations

GOOW	- 0.85	NFLW
OCTJ	- 0.83	NFLW
GOOW	- 0.81	MSFW
AAPW	- 0.76	NFLW
AAPW	- 0.62	MSFW
MFLX	- 0.6	NFLW

Roundhill Meta Constituents Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill Meta 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 Meta'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
NFLW	1.83	(0.53)	0.00	(1.10)	0.00	0.00	3.27	(4.73)	15.61
BRKW	0.79	(0.01)	(0.05)	0.02	0.98	(0.81)	1.47	(1.62)	5.09
AMZW	1.73	(0.13)	0.00	(0.03)	0.00	0.00	3.28	(3.64)	17.41
MSFW	1.13	(0.19)	0.00	(0.20)	0.00	0.00	2.18	(3.00)	6.34
GOOW	1.80	0.41	0.18	(1.58)	1.64	(2.08)	4.15	(3.06)	11.75
RFCI	0.15	(0.01)	(0.25)	(0.08)	0.20	(0.15)	0.27	(0.35)	0.93
OCTJ	0.14	0.01	(0.22)	0.09	0.07	(0.14)	0.33	(0.25)	0.92
AAPW	1.08	0.11	0.08	0.18	1.12	(1.25)	2.69	(2.16)	9.34
MFLX	0.11	0.01	(0.30)	3.40	0.00	(0.15)	0.30	(0.24)	0.71
AMDW	3.63	0.52	0.14	0.34	3.69	(4.01)	10.69	(6.61)	38.28

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