AdvisorShares Correlations

QPX Etf

USD 45.62 0.48 1.06%

The current 90-days correlation between AdvisorShares Q Dynamic and JP Morgan Exchange Traded is 0.92 (i.e., Almost no 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

Poor diversification

The correlation between AdvisorShares Q Dynamic and DJI is 0.73 (i.e., 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 main economic indicators.

Moving together with AdvisorShares Etf

0.82	VTI	Vanguard Total Stock	Pair Corr
0.79	SPY	SPDR SP 500	Pair Corr
0.79	IVV	iShares Core SP	Pair Corr
0.84	VIG	Vanguard Dividend	Pair Corr
0.93	VV	Vanguard Large Cap	Pair Corr
0.85	RSP	Invesco SP 500	Pair Corr
0.94	IWB	iShares Russell 1000	Pair Corr
0.92	ESGU	iShares ESG Aware	Pair Corr
0.93	DFAC	Dimensional Core Equity	Pair Corr
0.73	QLD	ProShares Ultra QQQ	Pair Corr
0.89	SMH	VanEck Semiconductor ETF	Pair Corr
0.9	SPXL	Direxion Daily SP500	Pair Corr
0.9	UPRO	ProShares UltraPro SP500	Pair Corr
0.89	SOXX	iShares Semiconductor ETF	Pair Corr
0.91	PSI	Invesco Dynamic Semi	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.67	WMT	Walmart Common Stock	Pair Corr
0.73	AXP	American Express	Pair Corr

Moving against AdvisorShares Etf

0.33	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.55	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	JUSA	UXI	YFYA	KQQQ	LOGO	XNOV	XTAP	EGUS	HFGM	LITP
JUSA		0.75	0.79	0.61	0.31	0.75	0.88	0.68	0.61	0.56	JUSA
UXI	0.75		0.59	0.28	0.63	0.45	0.65	0.36	0.81	0.39	UXI
YFYA	0.79	0.59		0.1	-0.15	0.94	0.94	0.42	0.32	0.83	YFYA
KQQQ	0.61	0.28	0.1		0.48	0.07	0.2	0.73	0.38	-0.16	KQQQ
LOGO	0.31	0.63	-0.15	0.48		-0.29	-0.03	0.24	0.72	-0.36	LOGO
XNOV	0.75	0.45	0.94	0.07	-0.29		0.95	0.37	0.2	0.89	XNOV
XTAP	0.88	0.65	0.94	0.2	-0.03	0.95		0.46	0.41	0.81	XTAP
EGUS	0.68	0.36	0.42	0.73	0.24	0.37	0.46		0.27	0.13	EGUS
HFGM	0.61	0.81	0.32	0.38	0.72	0.2	0.41	0.27		0.18	HFGM
LITP	0.56	0.39	0.83	-0.16	-0.36	0.89	0.81	0.13	0.18		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	+ 0.95	XNOV
XNOV	+ 0.94	YFYA
XTAP	+ 0.94	YFYA
LITP	+ 0.89	XNOV
XTAP	+ 0.88	JUSA
LITP	+ 0.83	YFYA

High negative correlations

LITP	- 0.36	LOGO
XNOV	- 0.29	LOGO
LITP	- 0.16	KQQQ
LOGO	- 0.15	YFYA
XTAP	- 0.03	LOGO

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	0.58	(0.03)	(0.04)	0.06	0.78	(0.53)	1.30	(1.16)	3.26
UXI	1.44	(0.04)	0.03	0.07	1.87	(1.47)	2.55	(3.15)	7.40
YFYA	0.09	0.00	(0.48)	0.16	0.00	(0.14)	0.20	(0.10)	0.81
KQQQ	0.78	(0.07)	(0.07)	0.00	1.13	(0.77)	1.69	(2.01)	5.08
LOGO	0.66	(0.11)	0.00	(0.02)	0.00	0.00	1.21	(1.61)	3.45
XNOV	0.12	0.03	(0.19)	0.32	0.00	(0.15)	0.34	(0.24)	1.07
XTAP	0.18	0.01	(0.14)	0.11	0.21	(0.18)	0.50	(0.57)	1.14
EGUS	0.79	0.01	(0.05)	0.16	1.16	(0.72)	1.86	(1.95)	4.60
HFGM	1.28	(0.03)	0.01	0.07	1.59	(1.36)	3.25	(2.98)	7.24
LITP	2.97	0.63	0.20	0.38	3.14	(3.21)	5.88	(5.53)	20.28

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