OneAscent Core Correlations

Etfs . USA . 
Etf . OneAscent Core Plus
OACP Etf  USD 22.48  0.04  0.18%   
The current 90-days correlation between OneAscent Core Plus and iShares Core Total is 0.97 (i.e., Almost no 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

Modest diversification

The correlation between OneAscent Core Plus and DJI is 0.26 (i.e., Modest 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.
  
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 main economic indicators.

Moving together with OneAscent Etf

  0.99IUSB iShares Core TotalPairCorr
  0.98FIXD First Trust TCWPairCorr
  0.99FBND Fidelity Total Bond Sell-off TrendPairCorr
  0.99TOTL SPDR DoubleLine TotalPairCorr
  0.99HTRB Hartford Total ReturnPairCorr
  0.99GTO Invesco Total ReturnPairCorr
  0.92EUSB iShares TrustPairCorr
  0.99JCPB JPMorgan Core PlusPairCorr
  0.99VBND Vident Core BondPairCorr
  0.99CGCP Capital Group CorePairCorr
  0.96PMBS PIMCO Mortgage BackedPairCorr
  0.73PFFL ETRACS 2xMonthly PayPairCorr
  0.88YCL ProShares Ultra YenPairCorr
  0.62CEFD ETRACS Monthly PayPairCorr
  0.91FXY Invesco CurrencySharesPairCorr

Moving against OneAscent Etf

  0.46DSJA DSJAPairCorr
  0.45TSJA TSJAPairCorr
  0.58IVES Amplify ETF Trust Symbol ChangePairCorr
  0.55JAAA Janus Detroit StreetPairCorr
  0.54MINT PIMCO Enhanced ShortPairCorr
  0.45XDEC First Trust ExchangePairCorr
  0.39TSL GraniteShares 125x LongPairCorr
  0.59GSG iShares SP GSCIPairCorr
  0.59BNO United States BrentPairCorr
  0.57TFLO iShares Treasury FloatingPairCorr
  0.57BILS SPDR Series TrustPairCorr

Related Correlations Analysis

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OneAscent Core Constituents 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
IUSB  0.23 (0.03) 0.00 (0.35) 0.00 
 0.00 
 0.40 
(0.59)
 1.63 
FIXD  0.27 (0.05) 0.00 (0.44) 0.00 
 0.00 
 0.56 
(0.66)
 1.83 
FBND  0.24 (0.03) 0.00 (0.33) 0.00 
 0.00 
 0.46 
(0.60)
 1.64 
TOTL  0.22 (0.03) 0.00 (0.33) 0.00 
 0.00 
 0.48 
(0.48)
 1.31 
HTRB  0.23 (0.04) 0.00 (0.48) 0.00 
 0.00 
 0.48 
(0.54)
 1.29 
GTO  0.22 (0.03) 0.00 (0.40) 0.00 
 0.00 
 0.47 
(0.53)
 1.48 
EUSB  0.26 (0.04) 0.00 (1.00) 0.00 
 0.00 
 0.76 
(0.51)
 2.16 
JCPB  0.23 (0.03) 0.00 (0.34) 0.00 
 0.00 
 0.37 
(0.58)
 1.56 
VBND  0.28 (0.04) 0.00 (0.51) 0.00 
 0.00 
 0.56 
(0.68)
 1.81 
CGCP  0.23 (0.04) 0.00 (0.42) 0.00 
 0.00 
 0.40 
(0.49)
 1.65 

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