Spinnaker ETF Correlations

OOSP Etf

10.16 0.01 0.1%

The current 90-days correlation between Spinnaker ETF Series and Capital Group Short is 0.38 (i.e., Weak diversification). The correlation of Spinnaker ETF 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.

Spinnaker ETF Correlation With Market

Good diversification

The correlation between Spinnaker ETF Series and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spinnaker ETF Series 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 Spinnaker ETF Series. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Spinnaker Etf

0.61	AXSIX	Axonic Strategic Income	Pair Corr
0.82	AFIF	Anfield Universal Fixed	Pair Corr
0.89	JAVA	JPMorgan Active Value	Pair Corr
0.89	KONG	Formidable Fortress ETF	Pair Corr
0.92	VR	VR	Pair Corr
0.63	EV	Mast Global Battery	Pair Corr
0.77	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.82	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.85	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.91	WMT	Walmart Aggressive Push	Pair Corr
0.65	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.92	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.78	DIS	Walt Disney	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.89	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against Spinnaker Etf

0.78	KO	Coca Cola Aggressive Push	Pair Corr
0.77	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.69	DEED	First Trust TCW	Pair Corr
0.58	MKC	McCormick Company Fiscal Year End 23rd of January 2025	Pair Corr
0.48	MUSI	American Century Mul	Pair Corr
0.38	LUX	Tema ETF Trust	Pair Corr
0.89	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.85	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.73	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		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

JPM	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	META

Spinnaker ETF Competition Risk-Adjusted Indicators

There is a big difference between Spinnaker Etf performing well and Spinnaker ETF 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 Spinnaker ETF'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	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

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