AdvisorShares Trust Correlations

MSOX Etf

USD 7.98 0.70 9.62%

The current 90-days correlation between AdvisorShares Trust and ProShares Ultra SP500 is -0.24 (i.e., Very good diversification). The correlation of AdvisorShares Trust 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.

AdvisorShares Trust Correlation With Market

Good diversification

The correlation between AdvisorShares Trust and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvisorShares 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 AdvisorShares 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 persons.

Moving together with AdvisorShares Etf

0.8	NRGU	Bank Of Montreal	Pair Corr
0.61	IRET	iREIT MarketVector	Pair Corr

Moving against AdvisorShares Etf

0.94	ARKW	ARK Next Generation	Pair Corr
0.82	FNGU	MicroSectors FANG Index	Pair Corr
0.76	QLD	ProShares Ultra QQQ	Pair Corr
0.71	WTMF	WisdomTree Managed	Pair Corr
0.66	BST	BlackRock Science Tech	Pair Corr
0.62	UYG	ProShares Ultra Fina	Pair Corr
0.61	SSO	ProShares Ultra SP500	Pair Corr
0.55	SPXL	Direxion Daily SP500	Pair Corr
0.55	UPRO	ProShares UltraPro SP500	Pair Corr
0.35	TECL	Direxion Daily Technology	Pair Corr
0.93	OLO	Olo Inc	Pair Corr
0.91	HAPR	Innovator Premium Income	Pair Corr
0.9	TSL	GraniteShares 125x Long	Pair Corr
0.86	ETH	Grayscale Ethereum Mini Buyout Trend	Pair Corr
0.86	FTLS	First Trust LongShort	Pair Corr
0.86	MINT	PIMCO Enhanced Short	Pair Corr
0.86	BRLN	Blackrock ETF Trust	Pair Corr
0.85	XCCC	BondBloxx ETF Trust	Pair Corr
0.85	TFLO	iShares Treasury Floating	Pair Corr
0.84	SPYG	SPDR Portfolio SP	Pair Corr
0.81	UMI	USCF Midstream Energy	Pair Corr
0.81	IYG	iShares Financial	Pair Corr
0.81	AUGP	PGIM Large Cap	Pair Corr
0.79	DAPP	VanEck Digital Trans	Pair Corr
0.6	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.31	GSG	iShares SP GSCI	Pair Corr
0.94	BTRN	Global X Funds	Pair Corr
0.94	BTC	Grayscale Bitcoin Mini	Pair Corr
0.92	TSLY	Tidal Trust II	Pair Corr
0.9	YMAG	YieldMax Magnificent	Pair Corr
0.88	PJAN	Innovator SP 500	Pair Corr
0.87	JAAA	Janus Detroit Street	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

AdvisorShares Trust Competition Risk-Adjusted Indicators

There is a big difference between AdvisorShares Etf performing well and AdvisorShares Trust 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 AdvisorShares Trust'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
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

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