AdvisorShares Psychedelics Correlations

PSIL Etf

USD 12.04 0.25 2.03%

The current 90-days correlation between AdvisorShares Psychedelics and Global X FinTech is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AdvisorShares Psychedelics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AdvisorShares Psychedelics ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AdvisorShares Psychedelics Correlation With Market

Good diversification

The correlation between AdvisorShares Psychedelics ETF and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvisorShares Psychedelics ETF 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 AdvisorShares Psychedelics ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with AdvisorShares Etf

0.71	IPAY	Amplify ETF Trust	Pair Corr
0.8	DSJA	DSJA	Pair Corr
0.81	RSPY	Tuttle Capital Management	Pair Corr
0.78	MEME	Roundhill Investments	Pair Corr
0.7	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.64	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.81	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.79	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.77	BAC	Bank of America Aggressive Push	Pair Corr
0.76	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Moving against AdvisorShares Etf

0.8	ICLN	iShares Global Clean	Pair Corr
0.72	TAN	Invesco Solar ETF	Pair Corr
0.51	AMPD	Tidal Trust II	Pair Corr
0.44	QCLN	First Trust NASDAQ	Pair Corr
0.42	MJ	Amplify ETF Trust	Pair Corr
0.41	MSOS	AdvisorShares Pure	Pair Corr
0.4	ACES	ALPS Clean Energy	Pair Corr
0.75	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.73	KO	Coca Cola Sell-off Trend	Pair Corr
0.54	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.36	VZ	Verizon Communications Aggressive Push	Pair Corr
0.32	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FINX	IDNA	AAVXF	444859BR2	SCRYY	AQUI	IPSHX	APAAX	BRRAY	MSTSX
FINX		-0.34	0.0	-0.69	0.72	0.0	0.97	-0.25	-0.04	0.43	FINX
IDNA	-0.34		0.0	0.35	-0.56	0.0	-0.22	-0.09	0.19	0.09	IDNA
AAVXF	0.0	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	AAVXF
444859BR2	-0.69	0.35	0.0		-0.48	0.0	-0.67	0.05	0.22	-0.53	444859BR2
SCRYY	0.72	-0.56	0.0	-0.48		0.0	0.7	0.13	-0.15	0.37	SCRYY
AQUI	0.0	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
IPSHX	0.97	-0.22	0.0	-0.67	0.7	0.0		-0.17	-0.08	0.56	IPSHX
APAAX	-0.25	-0.09	0.0	0.05	0.13	0.0	-0.17		-0.4	0.33	APAAX
BRRAY	-0.04	0.19	0.0	0.22	-0.15	0.0	-0.08	-0.4		-0.45	BRRAY
MSTSX	0.43	0.09	0.0	-0.53	0.37	0.0	0.56	0.33	-0.45		MSTSX
	FINX	IDNA	AAVXF	444859BR2	SCRYY	AQUI	IPSHX	APAAX	BRRAY	MSTSX

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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

IPSHX	+ 0.97	FINX
SCRYY	+ 0.72	FINX
IPSHX	+ 0.7	SCRYY
MSTSX	+ 0.56	IPSHX
MSTSX	+ 0.43	FINX
MSTSX	+ 0.37	SCRYY

High negative correlations

AQUI	- 1.0	AAVXF
444859BR2	- 0.69	FINX
IPSHX	- 0.67	444859BR2
SCRYY	- 0.56	IDNA
MSTSX	- 0.53	444859BR2
SCRYY	- 0.48	444859BR2

AdvisorShares Psychedelics Constituents Risk-Adjusted Indicators

There is a big difference between AdvisorShares Etf performing well and AdvisorShares Psychedelics 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 AdvisorShares Psychedelics' 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
FINX	1.05	0.16	0.20	0.24	0.74	(1.30)	2.50	(1.60)	6.23
IDNA	0.87	(0.18)	0.00	(0.05)	0.00	0.00	1.74	(2.24)	6.20
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
SCRYY	2.09	0.30	0.05	(0.60)	2.04	(2.91)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IPSHX	0.55	0.03	0.02	0.15	0.45	(0.68)	1.13	(0.98)	3.97
APAAX	0.13	0.00	(0.39)	0.09	0.16	(0.18)	0.31	(0.31)	1.13
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80

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