RiverNorthDoubleLine Correlations

OPP Etf

USD 7.97 0.01 0.13%

The current 90-days correlation between RiverNorthDoubleLine and Rivernorth Opportunities is 0.31 (i.e., Weak 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

Very weak diversification

The correlation between RiverNorthDoubleLine Strategic and DJI is 0.57 (i.e., Very 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

0.8	EMM	Global X Funds	Pair Corr
0.63	GGM	Northern Lights	Pair Corr
0.67	STK	Columbia Seligman Premium	Pair Corr
0.78	DUKX	Ocean Park International	Pair Corr
0.7	ISEP	Innovator ETFs Trust	Pair Corr
0.66	JEPI	JPMorgan Equity Premium	Pair Corr
0.71	PBJ	Invesco Dynamic Food	Pair Corr
0.69	TDSB	Cabana Target Drawdown	Pair Corr
0.61	PAMC	Pacer Lunt MidCap	Pair Corr
0.79	MFEM	PIMCO RAFI Dynamic	Pair Corr
0.63	IJJ	iShares SP Mid	Pair Corr
0.65	RTH	VanEck Retail ETF	Pair Corr
0.8	FMB	First Trust Managed	Pair Corr
0.67	MBBB	VanEck Vectors Moodys	Pair Corr
0.76	GEND	Spinnaker ETF Series	Pair Corr
0.63	GMET	VanEck Vectors ETF	Pair Corr
0.72	INCM	Franklin Templeton ETF	Pair Corr
0.76	DBAW	Xtrackers MSCI All	Pair Corr
0.79	MKOR	Matthews International	Pair Corr
0.79	SRHR	Elevation Series Trust	Pair Corr
0.7	DFIV	Dimensional International	Pair Corr
0.8	NYM	AB Active ETFs	Pair Corr
0.73	SMIG	ETF Series Solutions	Pair Corr
0.68	VCLN	Virtus Duff Phelps	Pair Corr
0.67	SMH	VanEck Semiconductor ETF	Pair Corr
0.66	VT	Vanguard Total World	Pair Corr
0.64	VSMV	VictoryShares Multi	Pair Corr
0.77	VRAI	Virtus Real Asset	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.46	0.12	-0.56	-0.11	0.33	0.51	0.46	META
MSFT	-0.45		0.78	-0.5	-0.56	0.69	0.79	0.03	-0.83	-0.9	MSFT
UBER	-0.5	0.78		-0.43	-0.36	0.76	0.49	-0.13	-0.79	-0.73	UBER
F	0.46	-0.5	-0.43		-0.1	-0.38	-0.19	0.35	0.65	0.58	F
T	0.12	-0.56	-0.36	-0.1		-0.27	-0.68	-0.08	0.3	0.46	T
A	-0.56	0.69	0.76	-0.38	-0.27		0.44	-0.07	-0.6	-0.76	A
CRM	-0.11	0.79	0.49	-0.19	-0.68	0.44		0.43	-0.51	-0.8	CRM
JPM	0.33	0.03	-0.13	0.35	-0.08	-0.07	0.43		0.24	-0.05	JPM
MRK	0.51	-0.83	-0.79	0.65	0.3	-0.6	-0.51	0.24		0.8	MRK
XOM	0.46	-0.9	-0.73	0.58	0.46	-0.76	-0.8	-0.05	0.8		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.8	MRK
CRM	+ 0.79	MSFT
UBER	+ 0.78	MSFT
A	+ 0.76	UBER
A	+ 0.69	MSFT
MRK	+ 0.65	F

High negative correlations

XOM	- 0.9	MSFT
MRK	- 0.83	MSFT
XOM	- 0.8	CRM
MRK	- 0.79	UBER
XOM	- 0.76	A
XOM	- 0.73	UBER

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	1.52	0.04	0.01	0.13	1.51	(1.82)	3.43	(2.82)	13.69
MSFT	1.34	(0.34)	0.00	(0.77)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.51	(0.41)	0.00	(0.71)	0.00	0.00	2.41	(3.82)	11.09
F	1.19	0.03	0.01	0.11	1.20	(1.46)	3.38	(2.35)	7.16
T	1.00	0.23	0.16	(9.07)	0.77	(1.17)	3.87	(1.54)	5.31
A	1.25	(0.33)	0.00	(0.18)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.66	(0.44)	0.00	(0.38)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.27	(0.15)	0.00	(0.03)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.33	0.46	0.33	0.76	0.98	(1.68)	3.59	(1.98)	8.74
XOM	1.24	0.38	0.22	1.59	1.14	(1.43)	2.68	(2.12)	5.85

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC