Nelson Select Correlations

NELS Etf

26.27 0.08 0.30%

The current 90-days correlation between Nelson Select ETF and Invesco SP SmallCap is 0.65 (i.e., Poor diversification). The correlation of Nelson Select 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.

Nelson Select Correlation With Market

Very poor diversification

The correlation between Nelson Select ETF and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nelson Select ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nelson Etf

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

Moving together with Nelson Etf

0.63	INR	Infinity Natural Res	Pair Corr
0.94	VTI	Vanguard Total Stock	Pair Corr
0.92	SPY	SPDR SP 500	Pair Corr
0.93	IVV	iShares Core SP	Pair Corr
0.77	VTV	Vanguard Value Index	Pair Corr
0.87	VO	Vanguard Mid Cap	Pair Corr
0.8	VEA	Vanguard FTSE Developed Sell-off Trend	Pair Corr
0.86	VB	Vanguard Small Cap	Pair Corr
0.84	ITWO	Proshares Russell 2000	Pair Corr
0.91	CPST	Calamos ETF Trust	Pair Corr
0.77	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.78	CCNR	CoreCommodity Natural	Pair Corr
0.74	PID	Invesco International	Pair Corr
0.84	DFE	WisdomTree Europe	Pair Corr
0.82	HEEM	iShares Currency Hedged	Pair Corr
0.83	CFA	VictoryShares 500	Pair Corr
0.61	IGEB	iShares Edge Investment	Pair Corr
0.81	ESGD	iShares ESG Aware	Pair Corr
0.69	FIEE	FiEE Inc Symbol Change	Pair Corr
0.79	AUMI	Themes Gold Miners	Pair Corr
0.76	STXV	EA Series Trust	Pair Corr
0.9	QTAP	Innovator Growth 100	Pair Corr
0.95	PDEC	Innovator SP 500	Pair Corr
0.78	IJS	iShares SP Small	Pair Corr
0.73	LALT	Invesco Multi Strategy	Pair Corr
0.96	GOCT	FT Cboe Vest	Pair Corr
0.74	MEXX	Direxion Daily MSCI	Pair Corr
0.82	ILOW	AB Active ETFs	Pair Corr
0.77	RHRX	Starboard Investment	Pair Corr
0.92	BDEC	Innovator SP 500	Pair Corr
0.62	ERET	iShares Environmentally	Pair Corr
0.86	DIA	SPDR Dow Jones	Pair Corr
0.87	EAFG	Pacer Funds Trust	Pair Corr

Moving against Nelson Etf

0.72	MPAY	Exchange Traded Concepts	Pair Corr
0.54	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	GSC	QLV	SMIZ	PY	EVUS	UJUN	XJUN	PSCI
GSC		0.85	0.98	0.78	0.95	0.89	0.89	0.97	GSC
QLV	0.85		0.86	0.78	0.92	0.81	0.82	0.91	QLV
SMIZ	0.98	0.86		0.78	0.95	0.9	0.91	0.95	SMIZ
PY	0.78	0.78	0.78		0.86	0.82	0.83	0.82	PY
EVUS	0.95	0.92	0.95	0.86		0.94	0.94	0.97	EVUS
UJUN	0.89	0.81	0.9	0.82	0.94		0.99	0.87	UJUN
XJUN	0.89	0.82	0.91	0.83	0.94	0.99		0.88	XJUN
PSCI	0.97	0.91	0.95	0.82	0.97	0.87	0.88		PSCI
	GSC	QLV	SMIZ	PY	EVUS	UJUN	XJUN	PSCI

Nelson Select Constituents Risk-Adjusted Indicators

There is a big difference between Nelson Etf performing well and Nelson Select 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 Nelson Select'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
GSC	0.83	0.07	0.08	0.14	0.76	(0.94)	1.95	(1.83)	5.42
QLV	0.31	0.04	(0.02)	0.17	0.27	(0.35)	0.68	(0.68)	2.23
SMIZ	0.79	0.05	0.07	0.13	0.76	(0.97)	1.66	(1.65)	5.11
PY	0.48	0.02	0.00	0.11	0.53	(0.53)	1.10	(0.92)	3.16
EVUS	0.50	0.07	0.08	0.17	0.48	(0.55)	1.17	(0.97)	3.02
UJUN	0.14	0.02	(0.24)	0.17	0.00	(0.17)	0.33	(0.27)	1.12
XJUN	0.12	0.02	(0.33)	0.20	0.00	(0.14)	0.26	(0.21)	0.92
PSCI	0.92	0.15	0.18	0.20	0.74	(1.08)	2.46	(1.81)	5.49

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