Pacer Export Correlations

PEXL Etf

USD 50.37 0.00 0.00%

The current 90-days correlation between Pacer Export Leaders and ProShares SP 500 is 0.86 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pacer Export moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pacer Export Leaders moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Pacer Export Correlation With Market

Weak diversification

The correlation between Pacer Export Leaders and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacer Export Leaders and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pacer Etf

0.81	VO	Vanguard Mid Cap	Pair Corr
0.71	VXF	Vanguard Extended Market	Pair Corr
0.84	IJH	iShares Core SP	Pair Corr
0.8	IWR	iShares Russell Mid	Pair Corr
0.84	MDY	SPDR SP MIDCAP	Pair Corr
0.78	FV	First Trust Dorsey	Pair Corr
0.84	IVOO	Vanguard SP Mid	Pair Corr
0.84	JHMM	John Hancock Multifactor	Pair Corr
0.77	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.79	XMMO	Invesco SP MidCap	Pair Corr
0.79	DFEN	Direxion Daily Aerospace	Pair Corr
0.86	QQEW	First Trust NASDAQ	Pair Corr
0.73	HD	Home Depot	Pair Corr
0.81	CAT	Caterpillar Earnings Call This Week	Pair Corr

Moving against Pacer Etf

0.4

SGG

Barclays Capital

Pair Corr

Related Correlations Analysis

	SPXN	SPXE	SPXV	QARP	QDYN
SPXN		0.99	0.99	0.84	0.33	SPXN
SPXE	0.99		0.99	0.88	0.31	SPXE
SPXV	0.99	0.99		0.86	0.33	SPXV
QARP	0.84	0.88	0.86		0.0	QARP
QDYN	0.33	0.31	0.33	0.0		QDYN
	SPXN	SPXE	SPXV	QARP	QDYN

Click cells to compare fundamentals

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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

SPXE	+ 0.99	SPXN
SPXV	+ 0.99	SPXN
SPXV	+ 0.99	SPXE
QARP	+ 0.88	SPXE
QARP	+ 0.86	SPXV
QARP	+ 0.84	SPXN

High negative correlations

QDYN

- 0.0

QARP

Pacer Export Constituents Risk-Adjusted Indicators

There is a big difference between Pacer Etf performing well and Pacer Export 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 Pacer Export'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
SPXN	0.65	0.02	(0.03)	0.16	0.86	(0.63)	1.30	(1.58)	4.72
SPXE	0.61	0.03	(0.02)	0.18	0.81	(0.59)	1.19	(1.52)	5.24
SPXV	0.66	0.05	(0.01)	0.23	0.90	(0.65)	1.23	(1.58)	5.75
QARP	0.51	0.05	(0.02)	0.27	0.62	(0.54)	1.00	(0.95)	4.47
QDYN	0.57	0.05	(0.03)	0.32	0.51	(0.83)	1.53	(1.09)	3.35

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