Principal Spectrum Correlations

PREF Etf

USD 19.12 0.04 0.21%

The current 90-days correlation between Principal Spectrum and First Trust Exchange Traded is -0.11 (i.e., Good diversification). The correlation of Principal Spectrum 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.

Principal Spectrum Correlation With Market

Weak diversification

The correlation between Principal Spectrum Preferred and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Principal Spectrum Preferred and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Principal Etf

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

Moving together with Principal Etf

0.87	FPE	First Trust Preferred	Pair Corr
0.89	VRP	Invesco Variable Rate	Pair Corr
0.73	PFXF	VanEck Preferred Sec	Pair Corr
0.91	FPEI	First Trust Institutional	Pair Corr
0.86	PFFA	Virtus InfraCap Preferred	Pair Corr
0.87	AGQ	ProShares Ultra Silver	Pair Corr
0.9	JEPI	JPMorgan Equity Premium	Pair Corr
0.9	INOV	Innovator ETFs Trust	Pair Corr
0.84	DJD	Invesco Dow Jones	Pair Corr
0.84	SPY	SPDR SP 500	Pair Corr
0.77	MBB	iShares MBS ETF	Pair Corr
0.92	FGD	First Trust Dow	Pair Corr
0.86	RSSE	First Trust Exchange	Pair Corr

Moving against Principal Etf

0.63	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.54	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.52	DAPP	VanEck Digital Trans	Pair Corr
0.48	FNGG	Direxion Daily Select	Pair Corr
0.41	FNGO	MicroSectors FANG Index	Pair Corr
0.31	NVDL	GraniteShares 15x Long	Pair Corr

Related Correlations Analysis

	FSIG	VRIG	VTC	PDP	LIT	EWL	EQTY	FTGS	RSSL	FSTA
FSIG		0.96	0.21	-0.07	0.86	0.81	0.71	-0.12	0.48	0.11	FSIG
VRIG	0.96		0.13	-0.02	0.9	0.85	0.75	-0.07	0.51	0.07	VRIG
VTC	0.21	0.13		0.42	0.01	0.34	0.38	0.53	0.41	0.62	VTC
PDP	-0.07	-0.02	0.42		0.09	0.14	0.44	0.9	0.64	0.17	PDP
LIT	0.86	0.9	0.01	0.09		0.74	0.7	-0.02	0.47	-0.13	LIT
EWL	0.81	0.85	0.34	0.14	0.74		0.83	0.25	0.63	0.4	EWL
EQTY	0.71	0.75	0.38	0.44	0.7	0.83		0.51	0.9	0.38	EQTY
FTGS	-0.12	-0.07	0.53	0.9	-0.02	0.25	0.51		0.67	0.45	FTGS
RSSL	0.48	0.51	0.41	0.64	0.47	0.63	0.9	0.67		0.45	RSSL
FSTA	0.11	0.07	0.62	0.17	-0.13	0.4	0.38	0.45	0.45		FSTA
	FSIG	VRIG	VTC	PDP	LIT	EWL	EQTY	FTGS	RSSL	FSTA

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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

VRIG	+ 0.96	FSIG
LIT	+ 0.9	VRIG
FTGS	+ 0.9	PDP
RSSL	+ 0.9	EQTY
LIT	+ 0.86	FSIG
EWL	+ 0.85	VRIG

High negative correlations

FSTA	- 0.13	LIT
FTGS	- 0.12	FSIG
FTGS	- 0.07	VRIG
PDP	- 0.07	FSIG
FTGS	- 0.02	LIT
PDP	- 0.02	VRIG

Principal Spectrum Constituents Risk-Adjusted Indicators

There is a big difference between Principal Etf performing well and Principal Spectrum 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 Principal Spectrum'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
FSIG	0.08	0.01	(0.62)	0.62	0.00	(0.11)	0.16	(0.16)	0.53
VRIG	0.03	0.01	(1.76)	0.53	0.00	(0.05)	0.08	(0.04)	0.12
VTC	0.17	(0.01)	(0.37)	0.01	0.20	(0.17)	0.32	(0.34)	0.84
PDP	1.29	(0.10)	(0.03)	0.02	1.75	(1.26)	2.50	(3.13)	7.36
LIT	1.58	0.12	0.07	0.16	2.04	(1.65)	3.20	(2.91)	11.60
EWL	0.57	0.05	0.02	0.19	0.43	(0.69)	1.47	(0.99)	3.61
EQTY	0.68	0.06	(0.01)	0.45	0.80	(0.70)	1.43	(1.62)	3.51
FTGS	0.63	(0.08)	(0.10)	0.00	0.86	(0.60)	1.20	(1.38)	3.26
RSSL	1.04	0.05	(0.01)	0.26	1.20	(1.09)	1.91	(1.93)	5.47
FSTA	0.56	0.00	(0.11)	0.07	0.55	(0.71)	1.18	(0.87)	3.75

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