Macquarie ETF Correlations

PWER Etf

29.59 0.14 0.48%

The current 90-days correlation between Macquarie ETF Trust and EA Series Trust is 0.5 (i.e., Very weak diversification). The correlation of Macquarie ETF 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Macquarie ETF Correlation With Market

Very weak diversification

The correlation between Macquarie ETF Trust and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Macquarie ETF Trust 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 Macquarie ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Macquarie Etf

0.7	XLE	Energy Select Sector	Pair Corr
0.71	VDE	Vanguard Energy Index	Pair Corr
0.66	XOP	SPDR SP Oil	Pair Corr
0.71	IYE	iShares Energy ETF	Pair Corr
0.75	IXC	iShares Global Energy	Pair Corr
0.71	FENY	Fidelity MSCI Energy	Pair Corr
0.63	FTXN	First Trust Nasdaq	Pair Corr
0.61	IEO	iShares Oil Gas	Pair Corr
0.82	ITDD	iShares Trust	Pair Corr
0.8	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.63	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.7	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.86	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.67	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.8	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.79	HPQ	HP Inc	Pair Corr

Moving against Macquarie Etf

0.38	KO	Coca Cola Aggressive Push	Pair Corr
0.37	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.32	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	STRV	SHOC	RUM	STXD	UMI
STRV		0.62	0.53	0.57	0.88	STRV
SHOC	0.62		0.3	0.67	0.28	SHOC
RUM	0.53	0.3		0.08	0.53	RUM
STXD	0.57	0.67	0.08		0.21	STXD
UMI	0.88	0.28	0.53	0.21		UMI
	STRV	SHOC	RUM	STXD	UMI

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Macquarie ETF Constituents Risk-Adjusted Indicators

There is a big difference between Macquarie Etf performing well and Macquarie ETF 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 Macquarie ETF'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
STRV	0.56	0.01	(0.02)	0.13	0.65	(0.58)	1.16	(1.36)	3.89
SHOC	1.56	(0.20)	0.00	(0.01)	0.00	0.00	3.14	(3.80)	11.55
RUM	3.32	0.00	0.02	0.12	3.72	(3.97)	6.63	(5.27)	27.96
STXD	0.56	(0.06)	(0.14)	0.03	0.63	(0.60)	1.05	(1.07)	2.92
UMI	0.67	0.25	0.28	0.61	0.00	(0.83)	1.42	(0.97)	3.57

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