Ballast SmallMid Correlations

MGMT Etf

USD 44.05 0.19 0.43%

The current 90-days correlation between Ballast SmallMid Cap and Schwab Fundamental Large is 0.88 (i.e., Very poor diversification). The correlation of Ballast SmallMid 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.

Ballast SmallMid Correlation With Market

Very poor diversification

The correlation between Ballast SmallMid Cap 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 Ballast SmallMid Cap 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 Ballast SmallMid Cap. 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 Ballast Etf

0.98	VB	Vanguard Small Cap	Pair Corr
0.97	IJR	iShares Core SP	Pair Corr
0.97	IWM	iShares Russell 2000 Aggressive Push	Pair Corr
0.97	VRTIX	Vanguard Russell 2000	Pair Corr
0.97	VTWO	Vanguard Russell 2000	Pair Corr
0.98	FNDA	Schwab Fundamental Small	Pair Corr
0.97	SPSM	SPDR Portfolio SP	Pair Corr
0.98	DFAS	Dimensional Small Cap	Pair Corr
0.97	VIOO	Vanguard SP Small	Pair Corr
0.95	PRFZ	Invesco FTSE RAFI	Pair Corr
0.83	DSJA	DSJA	Pair Corr
0.86	RSPY	Tuttle Capital Management	Pair Corr
0.89	MEME	Roundhill Investments	Pair Corr
0.72	ITDD	iShares Trust	Pair Corr
0.7	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.81	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.96	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.76	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.92	DIS	Walt Disney Sell-off Trend	Pair Corr
0.84	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.93	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.9	WMT	Walmart Aggressive Push	Pair Corr
0.87	CSCO	Cisco Systems Sell-off Trend	Pair Corr

Moving against Ballast Etf

0.82	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.8	KO	Coca Cola Aggressive Push	Pair Corr
0.78	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.61	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	FNDX	FNDF	FNDC	FNDE	SCHC
FNDX		-0.52	-0.49	0.33	-0.34	FNDX
FNDF	-0.52		0.98	0.33	0.97	FNDF
FNDC	-0.49	0.98		0.3	0.97	FNDC
FNDE	0.33	0.33	0.3		0.46	FNDE
SCHC	-0.34	0.97	0.97	0.46		SCHC
	FNDX	FNDF	FNDC	FNDE	SCHC

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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

FNDC	+ 0.98	FNDF
SCHC	+ 0.97	FNDF
SCHC	+ 0.97	FNDC
SCHC	+ 0.46	FNDE
FNDE	+ 0.33	FNDX
FNDE	+ 0.33	FNDF

High negative correlations

FNDF	- 0.52	FNDX
FNDC	- 0.49	FNDX
SCHC	- 0.34	FNDX

Ballast SmallMid Constituents Risk-Adjusted Indicators

There is a big difference between Ballast Etf performing well and Ballast SmallMid 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 Ballast SmallMid'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
FNDX	0.53	0.00	(0.03)	0.13	0.42	(0.63)	0.92	(0.88)	3.86
FNDF	0.64	(0.12)	0.00	(0.16)	0.00	0.00	1.14	(1.57)	3.89
FNDC	0.62	(0.09)	0.00	(0.11)	0.00	0.00	1.37	(1.32)	4.31
FNDE	0.98	(0.02)	(0.09)	0.05	1.26	(1.10)	2.94	(1.99)	8.83
SCHC	0.65	(0.10)	0.00	(0.08)	0.00	0.00	1.38	(1.19)	4.17

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