Overlay Shares Correlations

OVB Etf

USD 20.89 0.02 0.1%

The current 90-days correlation between Overlay Shares Core and ProShares SP 500 is 0.45 (i.e., Very weak diversification). The correlation of Overlay Shares 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.

Overlay Shares Correlation With Market

Very poor diversification

The correlation between Overlay Shares Core and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Overlay Shares Core and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Overlay Etf

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

Moving together with Overlay Etf

0.87	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.89	AGG	iShares Core Aggregate	Pair Corr
0.8	BIV	Vanguard Intermediate	Pair Corr
0.88	SPAB	SPDR Portfolio Aggregate	Pair Corr
0.88	EAGG	iShares ESG Aggregate	Pair Corr
0.89	FLCB	Franklin Templeton ETF	Pair Corr
0.86	UITB	VictoryShares USAA Core	Pair Corr
0.91	DFCF	Dimensional ETF Trust	Pair Corr
0.88	JAGG	JPMorgan BetaBuilders	Pair Corr
0.89	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.73	VTI	Vanguard Total Stock	Pair Corr
0.71	SPY	SPDR SP 500	Pair Corr
0.71	IVV	iShares Core SP	Pair Corr
0.72	TOT	Advisor Managed Port	Pair Corr
0.9	VTV	Vanguard Value Index	Pair Corr
0.88	VO	Vanguard Mid Cap	Pair Corr
0.88	BSMS	Invesco BulletShares 2028	Pair Corr
0.82	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.83	EMES	Harbor ETF Trust	Pair Corr
0.89	UDI	USCF ETF Trust	Pair Corr
0.83	PFFA	Virtus InfraCap Preferred	Pair Corr
0.8	DOGG	First Trust Exchange	Pair Corr
0.75	WDNA	WisdomTree BioRevolution	Pair Corr
0.87	EURL	Direxion Daily FTSE	Pair Corr
0.86	UMAY	Innovator ETFs Trust	Pair Corr
0.81	NBCE	Neuberger Berman ETF	Pair Corr
0.73	IAUM	iShares Gold Trust	Pair Corr
0.93	NCPB	Nuveen Core Plus	Pair Corr
0.76	XFIX	Fm Investments Symbol Change	Pair Corr
0.88	SCDV	ETF Series Solutions	Pair Corr
0.9	IQSZ	Invesco Actively Managed	Pair Corr
0.93	JEPI	JPMorgan Equity Premium	Pair Corr
0.89	WLDR	Affinity World Leaders	Pair Corr
0.81	TLCI	Touchstone ETF Trust	Pair Corr
0.86	GAPR	First Trust Exchange	Pair Corr
0.84	CCNR	CoreCommodity Natural	Pair Corr
0.75	TERG	Leverage Shares 2X	Pair Corr

Moving against Overlay Etf

0.34	IRE	Tidal Trust II Potential Growth	Pair Corr
0.33	VUG	Vanguard Growth Index	Pair Corr

Related Correlations Analysis

	OVM	THTA	OVF	FDAT	PSTR	APRJ	PSFJ	OVT	EGGY	SPXV
OVM		0.94	0.97	0.94	0.92	0.92	0.88	0.96	0.18	0.74	OVM
THTA	0.94		0.95	0.92	0.93	0.93	0.91	0.97	0.19	0.76	THTA
OVF	0.97	0.95		0.95	0.91	0.93	0.87	0.94	0.13	0.7	OVF
FDAT	0.94	0.92	0.95		0.96	0.94	0.93	0.93	0.31	0.81	FDAT
PSTR	0.92	0.93	0.91	0.96		0.96	0.98	0.95	0.36	0.9	PSTR
APRJ	0.92	0.93	0.93	0.94	0.96		0.94	0.94	0.19	0.78	APRJ
PSFJ	0.88	0.91	0.87	0.93	0.98	0.94		0.93	0.4	0.94	PSFJ
OVT	0.96	0.97	0.94	0.93	0.95	0.94	0.93		0.2	0.8	OVT
EGGY	0.18	0.19	0.13	0.31	0.36	0.19	0.4	0.2		0.6	EGGY
SPXV	0.74	0.76	0.7	0.81	0.9	0.78	0.94	0.8	0.6		SPXV
	OVM	THTA	OVF	FDAT	PSTR	APRJ	PSFJ	OVT	EGGY	SPXV

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Overlay Shares Constituents Risk-Adjusted Indicators

There is a big difference between Overlay Etf performing well and Overlay Shares 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 Overlay Shares' 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
OVM	0.21	0.03	(0.06)	0.23	0.10	(0.23)	0.47	(0.33)	1.97
THTA	0.34	0.04	0.00	0.15	0.41	(0.41)	0.97	(0.99)	3.70
OVF	0.69	0.14	0.13	0.21	0.75	(0.75)	1.34	(1.39)	4.20
FDAT	0.56	0.04	0.03	0.13	0.59	(0.61)	1.07	(1.08)	2.99
PSTR	0.40	0.02	(0.01)	0.11	0.37	(0.43)	0.82	(0.89)	2.61
APRJ	0.07	0.01	(0.74)	0.32	0.00	(0.10)	0.20	(0.08)	0.41
PSFJ	0.25	0.01	(0.10)	0.09	0.28	(0.26)	0.52	(0.60)	1.92
OVT	0.17	0.03	(0.10)	0.20	0.00	(0.19)	0.46	(0.28)	1.61
EGGY	1.23	(0.03)	(0.02)	0.02	2.30	(1.13)	2.48	(3.50)	13.09
SPXV	0.58	(0.02)	(0.04)	0.04	0.81	(0.58)	0.89	(1.34)	4.09

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