OneAscent Small Correlations

OASC Etf

31.10 0.15 0.48%

The current 90-days correlation between OneAscent Small Cap and SoFi Next 500 is 0.07 (i.e., Significant diversification). The correlation of OneAscent Small 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.

OneAscent Small Correlation With Market

Almost no diversification

The correlation between OneAscent Small Cap and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OneAscent Small Cap 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 Small Cap. 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

0.94	VB	Vanguard Small Cap	Pair Corr
0.93	IJR	iShares Core SP	Pair Corr
0.93	IWM	iShares Russell 2000	Pair Corr
0.93	VRTIX	Vanguard Russell 2000	Pair Corr
0.93	VTWO	Vanguard Russell 2000	Pair Corr
0.93	FNDA	Schwab Fundamental Small	Pair Corr
0.93	SPSM	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.94	DFAS	Dimensional Small Cap	Pair Corr
0.93	VIOO	Vanguard SP Small	Pair Corr
0.93	PRFZ	Invesco FTSE RAFI	Pair Corr
0.86	VTI	Vanguard Total Stock	Pair Corr
0.83	SPY	SPDR SP 500	Pair Corr
0.83	IVV	iShares Core SP	Pair Corr
0.88	VTV	Vanguard Value Index	Pair Corr
0.94	VO	Vanguard Mid Cap	Pair Corr
0.88	VEA	Vanguard FTSE Developed Sell-off Trend	Pair Corr
0.78	VWO	Vanguard FTSE Emerging	Pair Corr
0.94	UMAY	Innovator ETFs Trust	Pair Corr
0.91	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.75	NCPB	Nuveen Core Plus	Pair Corr
0.85	CCNR	CoreCommodity Natural	Pair Corr
0.8	UDI	USCF ETF Trust	Pair Corr
0.78	QLV	FlexShares Quality Low	Pair Corr
0.86	FIDU	Fidelity MSCI Industrials	Pair Corr
0.79	SCDV	ETF Series Solutions	Pair Corr
0.92	XYLD	Global X SP	Pair Corr
0.91	PSFD	Pacer Swan SOS	Pair Corr
0.89	EURL	Direxion Daily FTSE	Pair Corr
0.81	IAUM	iShares Gold Trust	Pair Corr
0.86	CHPS	Xtrackers Semiconductor	Pair Corr
0.93	IQSZ	Invesco Actively Managed	Pair Corr
0.9	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.83	XFIX	Fm Investments Symbol Change	Pair Corr
0.85	TAXT	Northern Trust Tax	Pair Corr

Related Correlations Analysis

	HSMV	IFEB	BJK	RFLR	RNRG	OVF	JMID	JPSV	JUSA	SFYX
HSMV		0.9	-0.7	0.79	0.9	0.91	0.45	0.91	0.57	0.74	HSMV
IFEB	0.9		-0.5	0.93	0.87	0.96	0.64	0.94	0.8	0.9	IFEB
BJK	-0.7	-0.5		-0.38	-0.78	-0.65	0.09	-0.52	-0.11	-0.32	BJK
RFLR	0.79	0.93	-0.38		0.78	0.9	0.78	0.93	0.86	0.97	RFLR
RNRG	0.9	0.87	-0.78	0.78		0.95	0.44	0.85	0.63	0.75	RNRG
OVF	0.91	0.96	-0.65	0.9	0.95		0.6	0.92	0.78	0.88	OVF
JMID	0.45	0.64	0.09	0.78	0.44	0.6		0.63	0.84	0.86	JMID
JPSV	0.91	0.94	-0.52	0.93	0.85	0.92	0.63		0.76	0.89	JPSV
JUSA	0.57	0.8	-0.11	0.86	0.63	0.78	0.84	0.76		0.88	JUSA
SFYX	0.74	0.9	-0.32	0.97	0.75	0.88	0.86	0.89	0.88		SFYX
	HSMV	IFEB	BJK	RFLR	RNRG	OVF	JMID	JPSV	JUSA	SFYX

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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

SFYX	+ 0.97	RFLR
OVF	+ 0.96	IFEB
OVF	+ 0.95	RNRG
JPSV	+ 0.94	IFEB
RFLR	+ 0.93	IFEB
JPSV	+ 0.93	RFLR

High negative correlations

RNRG	- 0.78	BJK
BJK	- 0.7	HSMV
OVF	- 0.65	BJK
JPSV	- 0.52	BJK
BJK	- 0.5	IFEB
RFLR	- 0.38	BJK

OneAscent Small Constituents Risk-Adjusted Indicators

There is a big difference between OneAscent Etf performing well and OneAscent Small 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 Small'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
HSMV	0.49	0.09	0.10	1.38	0.34	(0.59)	1.34	(0.73)	2.51
IFEB	0.19	0.04	0.03	0.19	0.12	(0.20)	0.54	(0.48)	1.55
BJK	0.83	(0.17)	0.00	(0.15)	0.00	0.00	1.66	(1.95)	5.69
RFLR	0.57	0.05	0.06	0.11	0.61	(0.61)	1.26	(1.34)	3.67
RNRG	0.72	0.12	0.11	0.24	0.73	(0.78)	1.96	(1.38)	4.07
OVF	0.70	0.13	0.13	0.18	0.81	(0.74)	1.34	(1.39)	4.20
JMID	0.77	(0.04)	(0.03)	0.00	1.02	(0.80)	1.50	(1.90)	5.89
JPSV	0.75	0.13	0.12	1.29	0.68	(0.96)	2.07	(1.30)	5.24
JUSA	0.55	(0.02)	(0.03)	0.01	0.79	(0.51)	1.00	(1.35)	3.72
SFYX	0.81	0.07	0.07	0.10	0.88	(0.86)	1.66	(1.69)	5.11

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