AdvisorShares Correlations

QPX Etf

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The current 90-days correlation between AdvisorShares Q Dynamic and Sprott Lithium Miners is 0.51 (i.e., Very weak diversification). The correlation of AdvisorShares 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.

AdvisorShares Correlation With Market

Very poor diversification

The correlation between AdvisorShares Q Dynamic and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvisorShares Q Dynamic and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AdvisorShares Etf

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

Moving together with AdvisorShares Etf

0.87	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.82	VIG	Vanguard Dividend	Pair Corr
0.94	VV	Vanguard Large Cap	Pair Corr
0.82	RSP	Invesco SP 500	Pair Corr
0.96	IWB	iShares Russell 1000	Pair Corr
0.94	ESGU	iShares ESG Aware	Pair Corr
0.92	DFAC	Dimensional Core Equity	Pair Corr
0.76	SPLG	SSgA Symbol Change	Pair Corr
0.74	USD	ProShares Ultra Semi	Pair Corr
0.84	SMH	VanEck Semiconductor ETF	Pair Corr
0.91	UPRO	ProShares UltraPro SP500	Pair Corr
0.91	SPXL	Direxion Daily SP500	Pair Corr
0.77	PSI	Invesco Dynamic Semi	Pair Corr
0.98	NJUL	Innovator Nasdaq 100	Pair Corr
0.75	DISV	Dimensional ETF Trust	Pair Corr
0.68	BSMS	Invesco BulletShares 2028	Pair Corr
0.93	NAPR	Innovator Nasdaq 100	Pair Corr
0.81	FNDA	Schwab Fundamental Small	Pair Corr
0.75	DWM	WisdomTree International	Pair Corr
0.69	VYMI	Vanguard International Sell-off Trend	Pair Corr
0.96	BDEC	Innovator SP 500	Pair Corr
0.93	QTAP	Innovator Growth 100	Pair Corr
0.86	SLV	iShares Silver Trust Buyout Trend	Pair Corr
0.8	KNGZ	First Trust Exchange	Pair Corr
0.96	PDEC	Innovator SP 500	Pair Corr
0.8	VLU	SPDR SP 1500	Pair Corr
0.63	DXJ	WisdomTree Japan Hedged	Pair Corr
0.73	CCNR	CoreCommodity Natural	Pair Corr
0.75	HEEM	iShares Currency Hedged	Pair Corr
0.78	JEPI	JPMorgan Equity Premium	Pair Corr
0.76	DFIC	Dimensional International	Pair Corr

Moving against AdvisorShares Etf

0.54

ENTR

EntrepreneurShares

Pair Corr

Related Correlations Analysis

	JUSA	UXI	YFYA	KQQQ	LOGO	XNOV	XTAP	EGUS	HFGM	LITP
JUSA		0.66	0.79	0.07	0.19	0.95	0.9	0.17	0.74	0.67	JUSA
UXI	0.66		0.92	-0.66	-0.52	0.76	0.85	-0.6	0.92	0.61	UXI
YFYA	0.79	0.92		-0.44	-0.3	0.88	0.92	-0.4	0.95	0.79	YFYA
KQQQ	0.07	-0.66	-0.44		0.84	-0.14	-0.32	0.94	-0.46	-0.11	KQQQ
LOGO	0.19	-0.52	-0.3	0.84		0.05	-0.11	0.93	-0.4	0.1	LOGO
XNOV	0.95	0.76	0.88	-0.14	0.05		0.97	-0.02	0.8	0.76	XNOV
XTAP	0.9	0.85	0.92	-0.32	-0.11	0.97		-0.2	0.85	0.73	XTAP
EGUS	0.17	-0.6	-0.4	0.94	0.93	-0.02	-0.2		-0.44	-0.06	EGUS
HFGM	0.74	0.92	0.95	-0.46	-0.4	0.8	0.85	-0.44		0.75	HFGM
LITP	0.67	0.61	0.79	-0.11	0.1	0.76	0.73	-0.06	0.75		LITP
	JUSA	UXI	YFYA	KQQQ	LOGO	XNOV	XTAP	EGUS	HFGM	LITP

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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

XTAP	+ 0.97	XNOV
XNOV	+ 0.95	JUSA
HFGM	+ 0.95	YFYA
EGUS	+ 0.94	KQQQ
EGUS	+ 0.93	LOGO
YFYA	+ 0.92	UXI

High negative correlations

KQQQ	- 0.66	UXI
EGUS	- 0.6	UXI
LOGO	- 0.52	UXI
HFGM	- 0.46	KQQQ
HFGM	- 0.44	EGUS
KQQQ	- 0.44	YFYA

AdvisorShares Constituents Risk-Adjusted Indicators

There is a big difference between AdvisorShares Etf performing well and AdvisorShares 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' 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
JUSA	0.54	0.05	(0.03)	(0.37)	0.70	(0.52)	1.00	(1.21)	3.72
UXI	1.46	0.46	0.19	(2.40)	1.61	(1.58)	3.26	(3.39)	7.80
YFYA	0.12	0.01	(0.24)	(1.28)	0.00	(0.18)	0.30	(0.20)	0.91
KQQQ	0.79	(0.08)	0.00	1.01	0.00	0.00	1.35	(2.11)	5.86
LOGO	0.63	(0.06)	0.00	1.32	0.00	0.00	0.96	(1.59)	3.85
XNOV	0.18	0.04	(0.09)	(1.28)	0.10	(0.19)	0.40	(0.42)	1.42
XTAP	0.13	0.03	(0.11)	(10.12)	0.00	(0.14)	0.39	(0.24)	1.12
EGUS	0.78	(0.05)	0.00	0.41	0.00	0.00	1.44	(1.95)	5.38
HFGM	1.26	0.29	0.11	(0.95)	1.61	(1.32)	2.31	(2.35)	9.79
LITP	2.89	0.41	0.08	(0.80)	3.65	(2.88)	5.44	(5.41)	18.88

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