TrueShares Structured Correlations

OCTZ Etf

USD 42.86 0.31 0.73%

The current 90-days correlation between TrueShares Structured and Innovator SP 500 is 0.93 (i.e., Almost no diversification). The correlation of TrueShares Structured 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.

TrueShares Structured Correlation With Market

Very poor diversification

The correlation between TrueShares Structured Outcome and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TrueShares Structured Outcome and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TrueShares Etf

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

Moving together with TrueShares Etf

0.68	INOV	Innovator ETFs Trust	Pair Corr
0.94	BUFR	First Trust Cboe	Pair Corr
0.93	BUFD	FT Cboe Vest	Pair Corr
0.95	PSEP	Innovator SP 500	Pair Corr
0.91	PJAN	Innovator SP 500	Pair Corr
0.92	PJUL	Innovator SP 500	Pair Corr
0.94	PAUG	Innovator Equity Power	Pair Corr
0.94	DNOV	FT Cboe Vest	Pair Corr
0.85	PMAY	Innovator SP 500	Pair Corr
0.83	ACII	Innovator ETFs Trust	Pair Corr
0.76	USD	ProShares Ultra Semi	Pair Corr
0.72	JNUG	Direxion Daily Junior	Pair Corr
0.69	GDXU	MicroSectors Gold Miners	Pair Corr
0.7	NUGT	Direxion Daily Gold	Pair Corr
0.67	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.63	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.7	GGLL	Direxion Daily GOOGL Buyout Trend	Pair Corr
0.61	DGP	DB Gold Double	Pair Corr
0.7	WLDR	Affinity World Leaders	Pair Corr
0.86	XYLD	Global X SP	Pair Corr
0.73	DMCY	Democracy International	Pair Corr
0.67	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.61	FIDU	Fidelity MSCI Industrials	Pair Corr
0.92	XAUG	FT Cboe Vest	Pair Corr
0.75	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.62	IAUM	iShares Gold Trust	Pair Corr
0.78	WDNA	WisdomTree BioRevolution	Pair Corr
0.81	FB	ProShares Trust ProShares	Pair Corr
0.75	IRTR	iShares Trust	Pair Corr
0.74	NULV	Nuveen ESG Large	Pair Corr
0.94	PSFD	Pacer Swan SOS	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.29	-0.34	0.39	0.14	-0.42	-0.06	0.36	0.36	0.35	META
MSFT	-0.29		0.82	-0.6	-0.77	0.76	0.87	0.08	-0.88	-0.93	MSFT
UBER	-0.34	0.82		-0.55	-0.65	0.82	0.65	-0.07	-0.8	-0.8	UBER
F	0.39	-0.6	-0.55		0.23	-0.5	-0.35	0.26	0.75	0.65	F
T	0.14	-0.77	-0.65	0.23		-0.55	-0.81	-0.16	0.59	0.68	T
A	-0.42	0.76	0.82	-0.5	-0.55		0.59	-0.01	-0.68	-0.81	A
CRM	-0.06	0.87	0.65	-0.35	-0.81	0.59		0.43	-0.69	-0.85	CRM
JPM	0.36	0.08	-0.07	0.26	-0.16	-0.01	0.43		0.2	-0.11	JPM
MRK	0.36	-0.88	-0.8	0.75	0.59	-0.68	-0.69	0.2		0.88	MRK
XOM	0.35	-0.93	-0.8	0.65	0.68	-0.81	-0.85	-0.11	0.88		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

XOM	+ 0.88	MRK
CRM	+ 0.87	MSFT
UBER	+ 0.82	MSFT
A	+ 0.82	UBER
A	+ 0.76	MSFT
MRK	+ 0.75	F

High negative correlations

XOM	- 0.93	MSFT
MRK	- 0.88	MSFT
XOM	- 0.85	CRM
XOM	- 0.81	A
CRM	- 0.81	T
XOM	- 0.8	UBER

TrueShares Structured Constituents Risk-Adjusted Indicators

There is a big difference between TrueShares Etf performing well and TrueShares Structured 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 TrueShares Structured'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	1.50	0.07	0.03	0.16	1.44	(1.78)	3.43	(2.60)	13.69
MSFT	1.29	(0.39)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.56	(0.35)	0.00	(0.63)	0.00	0.00	2.46	(3.82)	11.09
F	1.22	0.05	0.03	0.13	1.21	(1.46)	3.34	(2.30)	7.16
T	1.00	0.15	0.07	(19.14)	0.94	(1.16)	3.87	(1.76)	7.44
A	1.26	(0.35)	0.00	(0.21)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.69	(0.47)	0.00	(0.39)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.20	(0.06)	(0.02)	0.03	1.61	(1.29)	2.34	(2.63)	7.38
MRK	1.27	0.38	0.26	0.64	0.97	(1.50)	2.93	(1.98)	8.74
XOM	1.29	0.31	0.18	1.25	1.17	(1.46)	2.90	(2.44)	6.83

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