OShares Quality Correlations
OUSA Etf | USD 55.50 0.13 0.23% |
The current 90-days correlation between OShares Quality Dividend and OShares Small Cap Quality is 0.79 (i.e., Poor diversification). The correlation of OShares Quality 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.
OShares Quality Correlation With Market
Very poor diversification
The correlation between OShares Quality Dividend and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OShares Quality Dividend and DJI in the same portfolio, assuming nothing else is changed.
OShares |
Moving together with OShares Etf
0.97 | VTV | Vanguard Value Index | PairCorr |
0.96 | VYM | Vanguard High Dividend | PairCorr |
0.95 | IWD | iShares Russell 1000 | PairCorr |
0.98 | DGRO | iShares Core Dividend | PairCorr |
0.95 | IVE | iShares SP 500 | PairCorr |
0.87 | DVY | iShares Select Dividend | PairCorr |
0.95 | SPYV | SPDR Portfolio SP | PairCorr |
0.96 | FVD | First Trust Value | PairCorr |
0.95 | IUSV | iShares Core SP | PairCorr |
0.89 | NOBL | ProShares SP 500 | PairCorr |
0.74 | NVDL | GraniteShares 15x Long | PairCorr |
0.74 | NVDX | T Rex 2X | PairCorr |
0.74 | NVDU | Direxion Daily NVDA | PairCorr |
0.79 | CRPT | First Trust SkyBridge | PairCorr |
0.68 | BITX | Volatility Shares Trust | PairCorr |
0.67 | CONL | GraniteShares ETF Trust | PairCorr |
0.77 | DAPP | VanEck Digital Trans | PairCorr |
0.73 | DPST | Direxion Daily Regional | PairCorr |
0.79 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
0.88 | HD | Home Depot | PairCorr |
0.76 | CVX | Chevron Corp Sell-off Trend | PairCorr |
0.91 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
0.79 | WMT | Walmart Aggressive Push | PairCorr |
0.86 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
0.63 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
0.61 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
0.89 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
0.7 | DIS | Walt Disney Sell-off Trend | PairCorr |
0.76 | HPQ | HP Inc | PairCorr |
0.76 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
Moving against OShares Etf
0.66 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
0.64 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
0.46 | PFE | Pfizer Inc Aggressive Push | PairCorr |
Related Correlations Analysis
-0.59 | 0.91 | 0.79 | 0.93 | OUSM | ||
-0.59 | -0.79 | -0.2 | -0.46 | OEUR | ||
0.91 | -0.79 | 0.65 | 0.87 | OGIG | ||
0.79 | -0.2 | 0.65 | 0.84 | NOBL | ||
0.93 | -0.46 | 0.87 | 0.84 | DGRW | ||
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
OShares Quality Constituents Risk-Adjusted Indicators
There is a big difference between OShares Etf performing well and OShares Quality 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 OShares Quality'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
OUSM | 0.68 | (0.03) | (0.02) | 0.09 | 0.59 | 1.64 | 4.88 | |||
OEUR | 0.68 | (0.18) | 0.00 | (0.36) | 0.00 | 1.12 | 4.46 | |||
OGIG | 0.80 | 0.18 | 0.14 | 0.31 | 0.79 | 1.89 | 5.00 | |||
NOBL | 0.49 | (0.01) | (0.09) | 0.10 | 0.47 | 1.04 | 2.05 | |||
DGRW | 0.53 | (0.03) | (0.09) | 0.07 | 0.58 | 0.98 | 3.42 |