OneAscent Core Correlations

OACP Etf

USD 23.01 0.02 0.09%

The current 90-days correlation between OneAscent Core Plus and Bondbloxx ETF Trust is 0.04 (i.e., Significant diversification). The correlation of OneAscent Core 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.

OneAscent Core Correlation With Market

Poor diversification

The correlation between OneAscent Core Plus and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OneAscent Core Plus and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with OneAscent Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OneAscent Core Plus. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with OneAscent Etf

0.9	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.7	FIXD	First Trust TCW	Pair Corr
0.83	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.77	TOTL	SPDR DoubleLine Total	Pair Corr
0.75	BNDS	Series Portfolios Trust	Pair Corr
0.89	HTRB	Hartford Total Return	Pair Corr
0.84	GTO	Invesco Total Return	Pair Corr
0.98	EUSB	iShares Trust	Pair Corr
0.98	JCPB	JPMorgan Core Plus	Pair Corr
0.68	CPST	Calamos ETF Trust	Pair Corr
0.66	ITDD	iShares Trust	Pair Corr
0.7	DMAY	First Trust Exchange	Pair Corr
0.68	FNX	First Trust Mid	Pair Corr
0.7	TAXT	Northern Trust Tax	Pair Corr
0.65	DISV	Dimensional ETF Trust	Pair Corr
0.71	HLAL	Wahed FTSE USA	Pair Corr
0.69	FLXR	TCW ETF Trust	Pair Corr
0.68	FDRR	Fidelity Dividend ETF	Pair Corr

Moving against OneAscent Etf

0.45

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.32	0.12	0.19	0.01	-0.27	0.36	0.17	-0.09	0.03	META
MSFT	0.32		0.74	-0.47	0.28	0.38	0.44	-0.02	-0.8	-0.72	MSFT
UBER	0.12	0.74		-0.44	0.33	0.57	0.1	-0.2	-0.8	-0.53	UBER
F	0.19	-0.47	-0.44		-0.48	-0.24	-0.01	0.3	0.63	0.62	F
T	0.01	0.28	0.33	-0.48		0.44	-0.25	-0.27	-0.37	-0.38	T
A	-0.27	0.38	0.57	-0.24	0.44		-0.1	-0.13	-0.33	-0.54	A
CRM	0.36	0.44	0.1	-0.01	-0.25	-0.1		0.69	-0.15	-0.5	CRM
JPM	0.17	-0.02	-0.2	0.3	-0.27	-0.13	0.69		0.29	-0.13	JPM
MRK	-0.09	-0.8	-0.8	0.63	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.03	-0.72	-0.53	0.62	-0.38	-0.54	-0.5	-0.13	0.68		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

UBER	+ 0.74	MSFT
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
MRK	+ 0.63	F
XOM	+ 0.62	F
A	+ 0.57	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.54	A
XOM	- 0.53	UBER
XOM	- 0.5	CRM

OneAscent Core Competition Risk-Adjusted Indicators

There is a big difference between OneAscent Etf performing well and OneAscent Core 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 OneAscent Core'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	1.60	0.02	0.00	(0.36)	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.28	0.03	0.00	0.26	1.46	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.17)	0.00	(0.37)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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