OneAscent Small Correlations

OASC Etf

29.58 0.13 0.44%

The current 90-days correlation between OneAscent Small Cap and First Trust Horizon is 0.63 (i.e., Poor 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

Very poor diversification

The correlation between OneAscent Small Cap and DJI is 0.8 (i.e., Very poor 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 real.

Moving together with OneAscent Etf

0.94	VB	Vanguard Small Cap	Pair Corr
0.97	IJR	iShares Core SP	Pair Corr
0.88	IWM	iShares Russell 2000	Pair Corr
0.87	VRTIX	Vanguard Russell 2000	Pair Corr
0.88	VTWO	Vanguard Russell 2000	Pair Corr
0.97	FNDA	Schwab Fundamental Small	Pair Corr
0.98	SPSM	SPDR Portfolio SP	Pair Corr
0.98	DFAS	Dimensional Small Cap	Pair Corr
0.98	VIOO	Vanguard SP Small	Pair Corr
0.94	PRFZ	Invesco FTSE RAFI	Pair Corr
0.71	UPRO	ProShares UltraPro SP500	Pair Corr
0.85	QTJA	Innovator ETFs Trust	Pair Corr
0.8	QTOC	Innovator ETFs Trust	Pair Corr
0.9	XTOC	Innovator ETFs Trust	Pair Corr
0.91	QTAP	Innovator Growth 100	Pair Corr
0.85	XTJA	Innovator ETFs Trust	Pair Corr
0.91	XTAP	Innovator Equity Acc	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr
0.71	MCD	McDonalds	Pair Corr
0.8	BAC	Bank of America	Pair Corr
0.81	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.69	MRK	Merck Company	Pair Corr
0.73	AXP	American Express	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr

Moving against OneAscent Etf

0.51	T	ATT Inc	Pair Corr
0.46	MSFT	Microsoft	Pair Corr
0.33	HD	Home Depot	Pair Corr

Related Correlations Analysis

	HSMV	IFEB	BJK	RFLR	RNRG	OVF	JMID	JPSV	JUSA	SFYX
HSMV		0.57	0.61	0.58	-0.08	0.53	0.31	0.8	0.36	0.59	HSMV
IFEB	0.57		0.21	0.83	0.41	0.92	0.1	0.8	0.84	0.79	IFEB
BJK	0.61	0.21		0.36	-0.26	0.37	0.7	0.54	0.2	0.58	BJK
RFLR	0.58	0.83	0.36		0.33	0.85	0.47	0.84	0.78	0.93	RFLR
RNRG	-0.08	0.41	-0.26	0.33		0.49	0.07	0.05	0.5	0.25	RNRG
OVF	0.53	0.92	0.37	0.85	0.49		0.39	0.7	0.87	0.86	OVF
JMID	0.31	0.1	0.7	0.47	0.07	0.39		0.3	0.32	0.6	JMID
JPSV	0.8	0.8	0.54	0.84	0.05	0.7	0.3		0.64	0.85	JPSV
JUSA	0.36	0.84	0.2	0.78	0.5	0.87	0.32	0.64		0.76	JUSA
SFYX	0.59	0.79	0.58	0.93	0.25	0.86	0.6	0.85	0.76		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	+ 0.93	RFLR
OVF	+ 0.92	IFEB
JUSA	+ 0.87	OVF
SFYX	+ 0.86	OVF
OVF	+ 0.85	RFLR
SFYX	+ 0.85	JPSV

High negative correlations

RNRG	- 0.26	BJK
RNRG	- 0.08	HSMV

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	0.46	(0.05)	0.00	(0.05)	0.00	0.00	1.00	(0.90)	2.30
IFEB	0.21	0.02	(0.05)	0.11	0.21	(0.22)	0.47	(0.44)	1.22
BJK	0.65	(0.14)	0.00	(0.12)	0.00	0.00	1.51	(1.68)	5.12
RFLR	0.68	(0.01)	(0.01)	0.04	0.83	(0.69)	1.26	(1.39)	3.72
RNRG	0.67	0.08	0.05	0.20	0.73	(0.75)	1.41	(1.24)	4.94
OVF	0.67	0.03	0.03	0.09	0.92	(0.65)	1.27	(1.41)	3.57
JMID	0.79	(0.11)	0.00	(0.04)	0.00	0.00	1.33	(1.90)	4.23
JPSV	0.64	(0.06)	(0.07)	0.00	0.83	(0.76)	1.73	(1.65)	3.99
JUSA	0.56	(0.01)	(0.02)	0.04	0.84	(0.50)	1.20	(1.16)	3.26
SFYX	0.86	(0.02)	(0.01)	0.04	1.15	(0.84)	1.66	(1.70)	4.50

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