VanEck Preferred Correlations

PFXF Etf

USD 18.28 0.14 0.76%

The current 90-days correlation between VanEck Preferred Sec and iShares Core MSCI is 0.6 (i.e., Poor diversification). The correlation of VanEck Preferred 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.

VanEck Preferred Correlation With Market

Almost no diversification

The correlation between VanEck Preferred Securities and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Preferred Securities and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with VanEck Etf

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

Moving together with VanEck Etf

0.98	PFF	iShares Preferred	Pair Corr
0.94	FPE	First Trust Preferred	Pair Corr
0.67	PGX	Invesco Preferred ETF	Pair Corr
0.92	PFFD	Global X Preferred	Pair Corr
0.95	VRP	Invesco Variable Rate	Pair Corr
0.66	PGF	Invesco Financial	Pair Corr
0.91	FPEI	First Trust Institutional	Pair Corr
0.94	PFFA	Virtus InfraCap Preferred	Pair Corr
0.86	OIH	VanEck Oil Services	Pair Corr
0.94	WTMF	WisdomTree Managed	Pair Corr
0.89	EWC	iShares MSCI Canada	Pair Corr
0.86	TOT	Advisor Managed Port	Pair Corr
0.74	MILK	Pacer Cash Cows	Pair Corr
0.92	BRHY	BlackRock High Yield	Pair Corr
0.78	TECHX	Wisdomtree Digital Trust	Pair Corr
0.97	DDLS	WisdomTree Dynamic	Pair Corr
0.9	GSEE	Goldman Sachs MarketBeta Low Volatility	Pair Corr
0.86	SNAV	Collaborative Investment	Pair Corr
0.89	DFAE	Dimensional Emerging Core	Pair Corr
0.95	RSJN	First Trust Exchange	Pair Corr
0.83	BIL	SPDR Bloomberg 1	Pair Corr
0.75	SCHX	Schwab Large Cap	Pair Corr
0.78	BLST	Exchange Traded Concepts	Pair Corr
0.9	PSMO	Pacer Swan SOS	Pair Corr
0.88	UX	Roundhill Uranium ETF	Pair Corr
0.86	VTI	Vanguard Total Stock	Pair Corr
0.96	HFXI	IQ 50 Percent	Pair Corr
0.94	RWK	Invesco SP MidCap	Pair Corr
0.88	EWM	iShares MSCI Malaysia	Pair Corr
0.8	EWA	iShares MSCI Australia	Pair Corr
0.95	CPRO	Calamos ETF Trust	Pair Corr
0.96	JPSE	JPMorgan Diversified	Pair Corr

Related Correlations Analysis

	QQEW	FTLS	ITM	GTO	FDIS	IYG	PFFA	ICF	FIW	IPAC
QQEW		0.32	0.32	0.43	0.62	0.57	0.35	0.03	0.36	0.42	QQEW
FTLS	0.32		0.47	0.29	0.57	0.48	0.42	-0.12	0.09	0.49	FTLS
ITM	0.32	0.47		0.86	0.73	0.76	0.91	0.24	0.5	0.87	ITM
GTO	0.43	0.29	0.86		0.64	0.59	0.79	0.45	0.66	0.78	GTO
FDIS	0.62	0.57	0.73	0.64		0.71	0.75	0.2	0.58	0.78	FDIS
IYG	0.57	0.48	0.76	0.59	0.71		0.74	-0.07	0.21	0.59	IYG
PFFA	0.35	0.42	0.91	0.79	0.75	0.74		0.21	0.5	0.89	PFFA
ICF	0.03	-0.12	0.24	0.45	0.2	-0.07	0.21		0.77	0.4	ICF
FIW	0.36	0.09	0.5	0.66	0.58	0.21	0.5	0.77		0.71	FIW
IPAC	0.42	0.49	0.87	0.78	0.78	0.59	0.89	0.4	0.71		IPAC
	QQEW	FTLS	ITM	GTO	FDIS	IYG	PFFA	ICF	FIW	IPAC

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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

PFFA	+ 0.91	ITM
IPAC	+ 0.89	PFFA
IPAC	+ 0.87	ITM
GTO	+ 0.86	ITM
PFFA	+ 0.79	GTO
IPAC	+ 0.78	GTO

High negative correlations

ICF	- 0.12	FTLS
ICF	- 0.07	IYG

VanEck Preferred Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Preferred 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 VanEck Preferred'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
QQEW	0.72	(0.06)	(0.07)	0.00	0.89	(0.80)	1.20	(1.60)	3.65
FTLS	0.41	0.05	(0.02)	2.35	0.49	(0.44)	0.83	(0.75)	2.76
ITM	0.10	0.01	(0.38)	0.21	0.00	(0.12)	0.24	(0.19)	0.70
GTO	0.13	(0.01)	(0.38)	(0.02)	0.14	(0.15)	0.26	(0.30)	0.68
FDIS	0.92	0.04	(0.01)	0.26	1.15	(0.92)	1.89	(2.23)	5.22
IYG	0.72	(0.04)	(0.03)	0.03	0.96	(0.74)	1.38	(1.66)	4.81
PFFA	0.24	0.03	(0.06)	0.20	0.07	(0.30)	0.51	(0.43)	1.39
ICF	0.59	(0.07)	0.00	(0.10)	0.00	0.00	1.09	(1.38)	3.33
FIW	0.71	(0.10)	0.00	(0.04)	0.00	0.00	1.74	(1.24)	4.64
IPAC	0.58	0.06	0.04	0.15	0.70	(0.55)	1.32	(1.38)	3.53

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