RiverNorthDoubleLine Correlations

OPP Etf

USD 7.95 0.02 0.25%

The current 90-days correlation between RiverNorthDoubleLine and Rivernorth Opportunities is 0.18 (i.e., Average diversification). The correlation of RiverNorthDoubleLine 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.

RiverNorthDoubleLine Correlation With Market

Weak diversification

The correlation between RiverNorthDoubleLine Strategic and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RiverNorthDoubleLine Strategic and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with RiverNorthDoubleLine Etf

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

Moving together with RiverNorthDoubleLine Etf

0.61

TLT

iShares 20 Year

Pair Corr

Moving against RiverNorthDoubleLine Etf

0.66	SGOV	iShares 0 3	Pair Corr
0.65	SOF	Amplify Samsung SOFR	Pair Corr
0.64	ECOW	Pacer Emerging Markets	Pair Corr
0.63	NUSB	Nuveen Ultra Short	Pair Corr
0.55	MMIT	IQ MacKay Municipal	Pair Corr
0.54	XBAP	Innovator Equity Acc	Pair Corr
0.47	BINC	BlackRock ETF Trust	Pair Corr
0.42	SLYV	SPDR SP 600	Pair Corr
0.39	IVV	iShares Core SP	Pair Corr
0.39	JKL	iShares Morningstar	Pair Corr
0.38	SPY	SPDR SP 500	Pair Corr
0.35	FSYD	Fidelity Sustainable High	Pair Corr
0.34	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.34	MBNE	SSGA Active Trust	Pair Corr
0.68	LABU	Direxion Daily SP	Pair Corr
0.66	MEIEF	IShares IV Public	Pair Corr
0.66	FIAT	YieldMax Short N	Pair Corr
0.63	IBRN	iShares Trust	Pair Corr
0.61	JAAA	Janus Detroit Street	Pair Corr
0.54	HLAL	Wahed FTSE USA	Pair Corr
0.49	FEBW	AIM ETF Products	Pair Corr
0.47	ZHDG	ZEGA Buy	Pair Corr
0.46	MUNC	Northern Funds	Pair Corr
0.46	VSDB	Vanguard Short Duration	Pair Corr
0.45	PMSE	PGIM SP 500	Pair Corr
0.44	LYLD	Cambria LargeCap Sha	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	0.37	-0.51	0.31	-0.31	0.32	-0.24	-0.36	-0.46	META
MSFT	0.62		0.84	-0.53	0.45	-0.02	-0.03	-0.52	-0.82	-0.65	MSFT
UBER	0.37	0.84		-0.54	0.5	0.22	-0.23	-0.53	-0.82	-0.62	UBER
F	-0.51	-0.53	-0.54		-0.69	0.17	0.33	0.65	0.68	0.78	F
T	0.31	0.45	0.5	-0.69		0.24	-0.62	-0.72	-0.47	-0.6	T
A	-0.31	-0.02	0.22	0.17	0.24		-0.48	-0.19	0.02	0.01	A
CRM	0.32	-0.03	-0.23	0.33	-0.62	-0.48		0.55	0.27	0.32	CRM
JPM	-0.24	-0.52	-0.53	0.65	-0.72	-0.19	0.55		0.7	0.71	JPM
MRK	-0.36	-0.82	-0.82	0.68	-0.47	0.02	0.27	0.7		0.8	MRK
XOM	-0.46	-0.65	-0.62	0.78	-0.6	0.01	0.32	0.71	0.8		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	+ 0.84	MSFT
XOM	+ 0.8	MRK
XOM	+ 0.78	F
XOM	+ 0.71	JPM
MRK	+ 0.7	JPM
MRK	+ 0.68	F

High negative correlations

MRK	- 0.82	UBER
MRK	- 0.82	MSFT
JPM	- 0.72	T
T	- 0.69	F
XOM	- 0.65	MSFT
CRM	- 0.62	T

RiverNorthDoubleLine Competition Risk-Adjusted Indicators

There is a big difference between RiverNorthDoubleLine Etf performing well and RiverNorthDoubleLine 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 RiverNorthDoubleLine'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	1.37	(0.24)	0.00	(0.16)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.91	(0.19)	0.00	(0.29)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.53	(0.32)	0.00	(0.22)	0.00	0.00	2.60	(3.82)	10.23
F	1.44	0.27	0.14	1.03	1.32	(1.68)	3.38	(2.35)	16.30
T	0.88	(0.12)	0.00	5.02	0.00	0.00	1.63	(1.85)	5.74
A	1.12	(0.02)	(0.01)	0.07	1.28	(1.20)	2.34	(2.22)	6.50
CRM	1.52	0.05	0.02	0.15	1.89	(1.56)	3.66	(2.92)	9.91
JPM	1.12	(0.01)	0.01	0.08	1.44	(1.17)	2.34	(2.28)	7.02
MRK	1.21	0.30	0.22	0.46	1.04	(1.52)	3.59	(1.98)	8.09
XOM	1.04	0.11	0.04	0.43	1.07	(1.15)	2.21	(1.93)	5.82

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