Overlay Shares Correlations

OVLH Etf

USD 39.24 0.01 0.03%

The current 90-days correlation between Overlay Shares Hedged and Matthews Asia Innovators is 0.64 (i.e., Poor 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

Poor diversification

The correlation between Overlay Shares Hedged and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Overlay Shares Hedged 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 Hedged. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Overlay Etf

0.9	ACIO	Aptus Collared Income	Pair Corr
0.97	ADME	Aptus Drawdown Managed	Pair Corr
0.87	SWAN	Amplify BlackSwan Growth	Pair Corr
0.71	PHDG	Invesco SP 500	Pair Corr
0.93	MSTB	ETF Series Solutions	Pair Corr
0.96	HEGD	Swan Hedged Equity	Pair Corr
0.62	VAMO	Cambria Value	Pair Corr
0.85	HEQT	Simplify Exchange Traded	Pair Corr
0.8	USD	ProShares Ultra Semi	Pair Corr
0.66	GOOX	Etf Opportunities Trust	Pair Corr
0.64	CHPS	Xtrackers Semiconductor	Pair Corr
0.77	JANW	AIM ETF Products	Pair Corr
0.81	PSFD	Pacer Swan SOS	Pair Corr
0.63	PFFA	Virtus InfraCap Preferred	Pair Corr
0.75	CTEX	ProShares SP Kensho	Pair Corr
0.72	IRTR	iShares Trust	Pair Corr
0.63	JEPI	JPMorgan Equity Premium	Pair Corr
0.71	GAPR	First Trust Exchange	Pair Corr

Moving against Overlay Etf

0.59

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	JULT	PSMD	CANC	KARS	BATT	GIAX	SPBC	PHDG	ONLN	MINV
JULT		0.98	0.74	0.72	0.87	0.45	0.66	0.41	0.38	0.78	JULT
PSMD	0.98		0.76	0.72	0.88	0.41	0.62	0.35	0.38	0.8	PSMD
CANC	0.74	0.76		0.55	0.73	0.15	0.26	0.21	0.14	0.68	CANC
KARS	0.72	0.72	0.55		0.88	0.43	0.54	0.37	0.33	0.9	KARS
BATT	0.87	0.88	0.73	0.88		0.3	0.46	0.33	0.23	0.94	BATT
GIAX	0.45	0.41	0.15	0.43	0.3		0.92	0.53	0.87	0.27	GIAX
SPBC	0.66	0.62	0.26	0.54	0.46	0.92		0.52	0.85	0.41	SPBC
PHDG	0.41	0.35	0.21	0.37	0.33	0.53	0.52		0.25	0.43	PHDG
ONLN	0.38	0.38	0.14	0.33	0.23	0.87	0.85	0.25		0.18	ONLN
MINV	0.78	0.8	0.68	0.9	0.94	0.27	0.41	0.43	0.18		MINV
	JULT	PSMD	CANC	KARS	BATT	GIAX	SPBC	PHDG	ONLN	MINV

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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
JULT	0.29	(0.01)	(0.09)	0.04	0.39	(0.27)	0.55	(0.72)	2.16
PSMD	0.22	0.00	(0.12)	0.05	0.29	(0.24)	0.55	(0.60)	1.86
CANC	1.10	0.18	0.12	0.42	1.04	(1.16)	2.49	(2.17)	7.91
KARS	1.00	0.00	(0.01)	0.06	1.20	(1.09)	2.20	(2.14)	5.82
BATT	1.46	0.13	0.06	0.16	2.19	(1.41)	2.86	(3.10)	9.61
GIAX	1.08	(0.14)	0.00	(0.10)	0.00	0.00	2.08	(2.74)	6.58
SPBC	0.67	(0.12)	0.00	(0.07)	0.00	0.00	1.20	(1.86)	4.89
PHDG	0.39	(0.03)	(0.11)	(0.02)	0.58	(0.42)	0.88	(0.84)	3.77
ONLN	1.07	(0.28)	0.00	(0.21)	0.00	0.00	1.84	(2.71)	5.54
MINV	0.91	0.08	0.06	0.18	0.97	(1.01)	2.25	(1.86)	5.50

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