| RAYE Etf | | | USD 25.03 0.23 0.91% |
The current 90-days correlation between Rayliant Quantamental and Xtrackers MSCI Emerging is -0.2 (i.e., Good diversification). The correlation of Rayliant Quantamental 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 Quantamental Correlation With Market
Average diversification
The correlation between Rayliant Quantamental Emerging and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rayliant Quantamental Emerging 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 Quantamental Emerging. 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.