Rayliant Quantitative Correlations

RAYD Etf  USD 32.92  0.23  0.70%   
The current 90-days correlation between Rayliant Quantitative and WisdomTree Interest Rate is 0.15 (i.e., Average diversification). The correlation of Rayliant Quantitative 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.

Rayliant Quantitative Correlation With Market

Poor diversification

The correlation between Rayliant Quantitative Develope and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rayliant Quantitative Develope 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 Rayliant Quantitative Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Rayliant Etf

  0.9VT Vanguard Total WorldPairCorr
  0.89ACWI iShares MSCI ACWIPairCorr
  0.84IOO iShares Global 100PairCorr
  0.94URTH iShares MSCI WorldPairCorr
  0.93CRBN iShares MSCI ACWIPairCorr
  0.82GLOV Goldman Sachs ActiveBetaPairCorr
  0.97KOKU Xtrackers MSCI KokusaiPairCorr
  0.87SPGM SPDR Portfolio MSCIPairCorr
  0.88VR VRPairCorr
  0.97KONG Formidable Fortress ETFPairCorr
  0.97JAVA JPMorgan Active ValuePairCorr
  0.9SHLD Global X FundsPairCorr
  0.86ETH Grayscale Ethereum MiniPairCorr
  0.97EOS Eaton Vance EnhancedPairCorr
  0.92AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.76T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.87WMT Walmart Aggressive PushPairCorr
  0.91CVX Chevron Corp Sell-off TrendPairCorr
  0.89INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.8HD Home DepotPairCorr
  0.8TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.96CSCO Cisco Systems Sell-off TrendPairCorr
  0.9BAC Bank of America Aggressive PushPairCorr

Moving against Rayliant Etf

  0.53SDG iShares MSCI GlobalPairCorr
  0.83MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.71PFE Pfizer Inc Aggressive PushPairCorr
  0.67BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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   
CILFDTS
RRTLXMSTSX
RRTLXLBHIX
LBHIXAGZD
SCAXFCIL
MSTSXLBHIX
  
High negative correlations   
VIASPSCAXF
VIASPCIL
SCAXFAGZD
VIASPFDTS
CILAGZD
FDTSAGZD

Rayliant Quantitative Constituents Risk-Adjusted Indicators

There is a big difference between Rayliant Etf performing well and Rayliant Quantitative 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 Rayliant Quantitative'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AGZD  0.22  0.01 (0.43) 0.27  0.15 
 0.55 
 1.22 
FDTS  0.79 (0.10) 0.00 (0.07) 0.00 
 1.91 
 5.17 
CIL  0.59 (0.08) 0.00 (0.10) 0.00 
 1.26 
 3.41 
AQUI  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
LBHIX  0.12  0.01 (0.44) 0.51  0.00 
 0.24 
 0.96 
MSTSX  0.49 (0.03)(0.12) 0.08  0.50 
 1.21 
 2.80 
ABHYX  0.18  0.03 (0.23)(0.15) 0.24 
 0.34 
 1.91 
SCAXF  0.70 (0.37) 0.00 (19.66) 0.00 
 0.00 
 23.47 
VIASP  0.75  0.08 (0.04)(1.44) 1.13 
 2.28 
 7.18 
RRTLX  0.23 (0.02)(0.30) 0.07  0.23 
 0.48 
 1.36