Macquarie ETF Correlations

PWER Etf

27.40 0.39 1.44%

The current 90-days correlation between Macquarie ETF Trust and Freedom Day Dividend is 0.55 (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

Modest diversification

The correlation between Macquarie ETF Trust and DJI is 0.25 (i.e., Modest 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

0.84	XLE	Energy Select Sector	Pair Corr
0.8	VDE	Vanguard Energy Index	Pair Corr
0.68	XOP	SPDR SP Oil	Pair Corr
0.73	OIH	VanEck Oil Services	Pair Corr
0.82	IYE	iShares Energy ETF	Pair Corr
0.89	IXC	iShares Global Energy	Pair Corr
0.63	FXN	First Trust Energy	Pair Corr
0.8	FENY	Fidelity MSCI Energy	Pair Corr
0.76	FTXN	First Trust Nasdaq	Pair Corr
0.75	IEO	iShares Oil Gas	Pair Corr
0.72	INTC	Intel	Pair Corr
0.72	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.84	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr

Moving against Macquarie Etf

0.81	WTID	UBS ETRACS	Pair Corr
0.61	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.58	TSLL	Direxion Shares ETF	Pair Corr
0.74	BA	Boeing	Pair Corr
0.33	WMT	Walmart Aggressive Push	Pair Corr
0.31	MSFT	Microsoft Downward Rally	Pair Corr

Related Correlations Analysis

	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI
MBOX		0.13	0.0	-0.15	0.34	0.97	0.66	0.9	0.36	MBOX
DIEM	0.13		0.88	0.03	-0.52	0.2	0.55	0.28	0.72	DIEM
MCHI	0.0	0.88		0.17	-0.54	0.11	0.5	0.17	0.67	MCHI
DIPS	-0.15	0.03	0.17		-0.21	-0.06	0.2	0.0	0.23	DIPS
DISO	0.34	-0.52	-0.54	-0.21		0.24	-0.34	0.09	-0.41	DISO
DIVB	0.97	0.2	0.11	-0.06	0.24		0.77	0.95	0.43	DIVB
DIVD	0.66	0.55	0.5	0.2	-0.34	0.77		0.8	0.82	DIVD
DIVG	0.9	0.28	0.17	0.0	0.09	0.95	0.8		0.42	DIVG
DIVI	0.36	0.72	0.67	0.23	-0.41	0.43	0.82	0.42		DIVI
	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI

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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

DIVB	+ 0.97	MBOX
DIVG	+ 0.95	DIVB
DIVG	+ 0.9	MBOX
MCHI	+ 0.88	DIEM
DIVI	+ 0.82	DIVD
DIVG	+ 0.8	DIVD

High negative correlations

DISO	- 0.54	MCHI
DISO	- 0.52	DIEM
DIVI	- 0.41	DISO
DIVD	- 0.34	DISO
DISO	- 0.21	DIPS
DIPS	- 0.15	MBOX

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
MBOX	0.61	0.00	(0.05)	0.07	0.75	(0.67)	1.27	(1.03)	5.51
DIEM	0.61	(0.09)	0.00	(0.19)	0.00	0.00	1.32	(1.81)	5.07
MCHI	1.26	(0.05)	0.00	(0.05)	0.00	0.00	2.45	(2.72)	12.27
DIPS	1.72	0.08	(0.01)	(0.10)	2.59	(1.63)	2.53	(3.53)	23.85
DISO	0.81	0.17	0.13	1.05	0.59	(0.97)	1.51	(1.24)	6.23
DIVB	0.57	(0.02)	(0.09)	0.03	0.67	(0.65)	1.11	(0.76)	5.73
DIVD	0.52	(0.04)	0.00	(0.08)	0.00	0.00	0.89	(0.98)	3.36
DIVG	0.57	(0.04)	0.00	(0.07)	0.00	0.00	1.12	(1.12)	4.36
DIVI	0.56	(0.02)	(0.09)	(0.01)	0.79	(0.60)	1.14	(1.46)	3.80

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