ETRACS Monthly Correlations

MVRL Etf

USD 16.91 0.09 0.53%

The current 90-days correlation between ETRACS Monthly Pay and ETRACS 2xMonthly Pay is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ETRACS Monthly moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ETRACS Monthly Pay moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ETRACS Monthly Correlation With Market

Weak diversification

The correlation between ETRACS Monthly Pay and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETRACS Monthly Pay 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 ETRACS Monthly Pay. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with ETRACS Etf

0.63	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.71	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.81	KO	Coca Cola Aggressive Push	Pair Corr
0.82	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against ETRACS Etf

0.73	RSPY	Tuttle Capital Management	Pair Corr
0.7	MEME	Roundhill Investments	Pair Corr
0.69	DSJA	DSJA	Pair Corr
0.6	UYG	ProShares Ultra Fina	Pair Corr
0.55	FNGU	MicroSectors FANG Index	Pair Corr
0.44	QLD	ProShares Ultra QQQ	Pair Corr
0.42	SSO	ProShares Ultra SP500	Pair Corr
0.41	SPXL	Direxion Daily SP500	Pair Corr
0.41	UPRO	ProShares UltraPro SP500	Pair Corr
0.33	TECL	Direxion Daily Technology	Pair Corr
0.33	GUSH	Direxion Daily SP	Pair Corr
0.67	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.64	BAC	Bank of America Aggressive Push	Pair Corr
0.55	WMT	Walmart Aggressive Push	Pair Corr
0.5	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.45	HPQ	HP Inc	Pair Corr
0.39	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	SMHB	CEFD	HDLB	PFFL	BDCX
SMHB		0.4	0.05	0.81	0.25	SMHB
CEFD	0.4		0.75	0.57	0.67	CEFD
HDLB	0.05	0.75		0.21	0.74	HDLB
PFFL	0.81	0.57	0.21		0.23	PFFL
BDCX	0.25	0.67	0.74	0.23		BDCX
	SMHB	CEFD	HDLB	PFFL	BDCX

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ETRACS Monthly Constituents Risk-Adjusted Indicators

There is a big difference between ETRACS Etf performing well and ETRACS Monthly 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 ETRACS Monthly'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
SMHB	1.46	(0.05)	(0.02)	0.07	1.56	(1.80)	3.66	(2.35)	11.98
CEFD	0.65	0.01	(0.05)	0.13	0.81	(0.68)	1.48	(1.66)	4.61
HDLB	0.97	0.17	0.10	0.43	0.95	(1.10)	1.86	(1.75)	5.19
PFFL	0.91	(0.01)	(0.05)	0.10	1.38	(0.88)	1.64	(1.83)	6.87
BDCX	0.89	0.00	(0.03)	0.12	0.94	(0.96)	1.70	(1.51)	4.97

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