OneAscent Emerging Correlations

The current 90-days correlation between OneAscent Emerging and Matthews International Funds is 0.85 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OneAscent Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OneAscent Emerging Markets moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

OneAscent Emerging Correlation With Market

Poor diversification

The correlation between OneAscent Emerging Markets and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OneAscent Emerging Markets 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. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with OneAscent Etf

0.79	EEM	iShares MSCI Emerging	Pair Corr
0.68	SPEM	SPDR Portfolio Emerging	Pair Corr
0.64	FNDE	Schwab Fundamental	Pair Corr
0.78	ESGE	iShares ESG Aware	Pair Corr
0.72	DGS	WisdomTree Emerging	Pair Corr
0.78	XSOE	WisdomTree Emerging	Pair Corr
0.62	USD	ProShares Ultra Semi	Pair Corr
0.69	TECL	Direxion Daily Technology	Pair Corr
0.75	ROM	ProShares Ultra Tech	Pair Corr
0.82	QLD	ProShares Ultra QQQ	Pair Corr
0.87	SMH	VanEck Semiconductor ETF	Pair Corr
0.88	UPRO	ProShares UltraPro SP500	Pair Corr
0.62	SPXL	Direxion Daily SP500	Pair Corr
0.87	SOXX	iShares Semiconductor ETF	Pair Corr
0.89	GUSA	Goldman Sachs MarketBeta	Pair Corr
0.62	ECOW	Pacer Emerging Markets	Pair Corr
0.62	DFAX	Dimensional World	Pair Corr
0.62	VONG	Vanguard Russell 1000	Pair Corr
0.79	TJUL	Innovator Etfs Trust	Pair Corr
0.86	HEZU	iShares Currency Hedged	Pair Corr
0.61	FSMD	Fidelity Small Mid	Pair Corr
0.88	GTR	WisdomTree Target Range	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.54	-0.62	0.54	-0.57	0.22	-0.15	-0.56	-0.61	META
MSFT	0.66		0.83	-0.51	0.36	-0.2	0.07	-0.32	-0.77	-0.61	MSFT
UBER	0.54	0.83		-0.61	0.57	-0.27	-0.14	-0.27	-0.85	-0.59	UBER
F	-0.62	-0.51	-0.61		-0.7	0.53	0.3	0.41	0.69	0.75	F
T	0.54	0.36	0.57	-0.7		-0.52	-0.5	-0.21	-0.53	-0.47	T
A	-0.57	-0.2	-0.27	0.53	-0.52		-0.18	-0.26	0.46	0.23	A
CRM	0.22	0.07	-0.14	0.3	-0.5	-0.18		0.37	0.07	0.17	CRM
JPM	-0.15	-0.32	-0.27	0.41	-0.21	-0.26	0.37		0.32	0.41	JPM
MRK	-0.56	-0.77	-0.85	0.69	-0.53	0.46	0.07	0.32		0.65	MRK
XOM	-0.61	-0.61	-0.59	0.75	-0.47	0.23	0.17	0.41	0.65		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	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.69	F
MSFT	+ 0.66	META
XOM	+ 0.65	MRK
T	+ 0.57	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.7	F
F	- 0.62	META
F	- 0.61	UBER
XOM	- 0.61	MSFT

OneAscent Emerging Competition Risk-Adjusted Indicators

There is a big difference between OneAscent Etf performing well and OneAscent Emerging 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 Emerging'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	1.39	(0.24)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.97	(0.24)	0.00	(0.75)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.07	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.54	0.06	0.03	0.13	1.97	(1.52)	3.66	(2.92)	9.91
JPM	1.05	0.00	0.01	0.07	1.40	(1.05)	2.00	(1.91)	7.02
MRK	1.45	0.40	0.28	0.53	1.08	(1.84)	4.85	(2.06)	11.45
XOM	0.94	0.06	0.01	0.33	0.99	(1.00)	1.96	(1.51)	4.99

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